Towards deepening core businesses and developing new businesses through the implementation of ESG management.
Under the medium-term management plan (hereinafter referred to as the medium-term plan) that marks its second year this year, the company has aimed to further enhance corporate value based on ESG management by deepening core businesses and developing new businesses. As important materiality, initiatives linked to safety, environment, and human resources are being run, while fulfilling the role of a Conglomerates in response to societal demands for energy transition.
Specifically, as core businesses, the signing of a memorandum of cooperation with the Indonesian state-owned company and a liquefied CO₂ and LNG transportation and ship management company (June), and an agreement with ENEOS Ocean regarding the acquisition of businesses other than crude oil ships (July). As for new businesses, the establishment of the offshore Wind Power training center "Wind and Sea School Akita" was decided (January).
Furthermore, as a Conglomerates that develop logistics businesses centered on ship operations, the completion of the world's first commercial ammonia-fueled tugboat, initiatives towards establishing an ammonia supply chain, advancements in liquefied CO₂ transportation technology, and the establishment of production systems have been promoted in collaboration with shipyards, marine equipment manufacturers, domestic and international overseas partners, and local governments to drive the decarbonization of logistics, which is the foundation of many industries. These efforts were announced in October as "Progress Report 2024 as annex to NYK Group Decarbonization Story," summarizing the company's group's initiatives and co-creation examples towards decarbonization and their progress.
In 2025, the latter half of the medium-term plan, the NYK Group will push forward a growth strategy centered on ESG and work towards achieving further enhancement of long-term corporate value through "co-creation."
Here are the major News of individual stocks announced by our group this year.
Core and new businesses.
- January: Opened Hokkaido branch.
- In January, the training center for offshore wind power, "School of Wind and Sea Akita," will open in April 2024.
- In February, a company providing delivery platform services for E-Commerce operators in the UK was acquired.
- In March, an investment of approximately 50 billion yen was made in a new warehouse in the UK.
- In May, the local subsidiary of Mitsui O.S.K. Lines acquired an Auto Parts delivery company in the Netherlands.
- In May, an MOU was signed for the construction of biomass fuel transportation vessels.
- In June, a memorandum of understanding was signed with the state-owned Pertamina subsidiary in Indonesia for collaboration in liquefied CO₂, LNG transportation, and ship management.
- In July, ENEOS Ocean acquired businesses related to LPG ships, chemical tankers, product tankers (petroleum product ships), and cargo ships (dry bulk carriers).
ESG management.
Safety
- July: Obtained Approval in Principle (AiP) for ammonia fuel supply systems between ships.
- November: Filed a patent for technology to improve the safety and quality of iron ore transportation by bulk carriers.
Environment
- January: Participated in the Taskforce on Nature-related Financial Disclosures (TNFD) forum and signed the TNFD early adopter declaration.
- January: Decision made to construct ammonia fuel ammonia transport ships.
- March: Newly developed N2O removal device for ammonia-fueled ships selected for the Green Innovation Fund project "Next-generation Ship Development Project."
- May: Opening ceremony for the forest regeneration project "Yu no Mori."
- August: The ammonia fuel tugboat 'Kai' has been completed.
- September: NYK Line and Ohno Development have started discussions towards the commercialization of ship recycling.
- September: Approval for the basic design of low-pressure liquefied CO₂ transport vessels has been obtained from the classification society, aiming for the realization of large-scale international liquefied CO₂ maritime transport after 2028 through standardization.
- October: 'Progress Report 2024 as annex to NYK Group Decarbonization Story' has been published.
- December: NYK Line and KNCC are jointly examining the construction of liquefied CO₂ vessels using the ambient pressure (EP) method in collaboration with a Japanese shipyard.
- December: Establishment of a production system for cargo tanks for ambient pressure (EP) transport of liquefied CO₂.
Human resources.
- September: The 'D&I Promise' has been formulated to demonstrate the NYK Group's stance on Diversity & Inclusion.
- In December: Recognized as the top workplace for two consecutive years at the D&I Awards 2024.
