K Line enters into handling joint venture in India
KAWASAKI Kisen Kaisha (K Line), Nitto Total Logistics Limited and J M Baxi & Company have jointly entered into an agreement to form a new cargo handling company called Nitto Baxi Private Limited in India.
According to MANA, The new company, established on August 18 this year, has an initial capital investment of Rs1m ($14,867.K Line will hold a 10% stake; Nitto Total, a wholly owned subsidiary of K Line, will hold 40%; and JM Baxi will have a 50% shareholding in the new joint venture.
The aim of the move is to start stevedoring and handling vehicles carried by car carriers and also extend similar services to other types of vessels.
K Line has a fleet of 550 vessels, made up of 369 ships for its bulk shipping services, 68 for container shipping, 48 for its energy transport and tanker business, and 65 for oversized cargo related to the energy industry and infrastructure development.