|  | 05/21/2010 |
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Shinwa Kaiun, Nippon Steel Shipping to Merge
Japanese major bulk cargo shipping line, Shinwa Kaiun Kaisha and Nippon Steel's raw materials transport subsidiary, Nippon Steel Shipping announced on Thursday they agreed to merge and signed the merger contract effective on October 1. They decided to merge for stronger business and financial base to survive in severe business condition under volatile bulk ocean freight market and challenges including potential oversupply and severer environmental regulation. They try to improve the efficiency and service through the synergy. The major shareholder of Nippon Steel announced the support and expectation for better competitiveness for the raw materials transport.
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 | Shinwa Kaiun, Nippon Steel Shipping to Merge
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