Nippon Yusen investing in China, India car terminals

Nippon Yusen KK is expanding its car terminal business in emerging market economies, with China and India rapidly growing as automobile exporters, reported Nikkei.


The shipping company engages in car terminal operations at nine ports worldwide. Those terminals handled 4.25 million vehicles in 2010, and Nippon Yusen aims to expand the figure to five million this year by providing terminal services at more locations.


Nippon Yusen recently purchased a 12.5 percent stake in a Chinese firm that operates a car terminal in Guangzhou. The deal is estimated to have cost the firm nearly US$24.31 million. The terminal can accommodate large car carriers, and has a space for 13,500 vehicles.


In China, Nippon Yusen already provides car terminal services at ports in Shanghai, Tianjin and Dalian.


Meanwhile, Nippon Yusen has begun a feasibility study for a car terminal being constructed at the southeastern Indian port of Chennai.


The firm is considering forming a joint venture with a local business later this year to operate the terminal, which would be the first time for it to provide a terminal service in India.
(Source:http://www.cargonewsasia.com)