NYK has acquired a 60 percent share of the general shipping agency Grupo Multimar, headquartered in Buenos Aires, Argentina.

Grupo Multimar, was established in 1995, and 100 staff members are currently working with the group. The company provides general shipping agent services in Argentina, Uruguay, and Paraguay, in addition to customs clearance services and inland truck transport services and warehouses in those countries.

NYK has been expanding its container services for the east coast of South America from Asia, Europe, and the East Coast of North America. Services for ro/ro vessels, reefer vessels, and bulk carriers have also been growing. Further, in April 2007, to strengthen regional sales activities in Latin America, NYK shifted the head office of its Latin America business from Tokyo to Sao Paulo.

Argentina, Uruguay, and Paraguay have dramatically recovered from the region’s economic crisis in 2001. Further, an increase in the region is expected in cargo movement from various industry sectors, such as the automobile (CKD),wine, food, grain, and natural resources sectors. This acquisition should greatly help NYK improve its customer service in the area. Through its global network, NYK will continue to strive to enhance its capability in serving the needs of customers in fast-growing markets.