NYK buys Gazocean from Total

Japan’s NYK said it has purchased France-based LNG ship management firm Gazocean from partner Total.

The Japanese shipping giant signed a sales and purchase agreement with Total on October 22 acquiring all the French company’s shares in Gazocean.

Before the purchase, NYK held 20% of Gazocean shares while Total held 80%.

Based in Marseille, Gazocean is responsible for the management of six LNG carriers.

These include Global Energy, Provalys, Gaselys, Grace Cosmos, and Grace Acacia. Earlier this year, newbuild Elisa Larus also joined the Gazocean fleet.

Besides these LNG carriers, Gazocean will operate the second LNG bunkering vessel under construction in China owned by MOL and chartered by Total.

NYK said the Gazocean acquisition will strengthen the firm’s ship-management system and expand the company’s LNG transportation business in France.

The Japanese firm did not disclose any financial details of the deal.

The acquisition has been reviewed by Gazocean’s employee representatives as part of the regulatory information and consultation procedure. It also has the approval of the competent authorities.

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