Nippon Yusen plans Y1.2 trln investment in 4 years, boosts shareholder return

TOKYO : Japanese shipping and logistics company Nippon Yusen KK said on Friday it plans to invest 1.2 trillion yen in the next four years, with 290 billion yen to be spent on decarbonising its vessels to help achieve its 2050 goal of carbon neutrality.

"We want to go beyond the current framework of a comprehensive logistics company and create the value necessary for the future by deepening our core businesses and growing new businesses," President Hitoshi Nagasawa told a news conference. To slash greenhouse gas emissions from its vessels, the firm plans to build 31 vessels fuelled by liquefied natural gas and others fuelled by liquefied petroleum gas, ammonia and methanol by 2030.

"For the vessels that are not easy to switch fuel, we will use bio-fuels and carbon offset," said Soga, who will become the president from April.

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