Ezra Holdings Limited (“Ezra”), Chiyoda Corporation (“Chiyoda”) and Nippon Yusen Kabushiki Kaisha (“NYK”) jointly announced that the three parties have entered into a binding agreement for NYK to invest in EMAS CHIYODA Subsea (“ECS”), which is currently a 50:50 joint-venture company owned by Ezra and Chiyoda.
Through the acquisition of shares from Ezra and Chiyoda, NYK will own 25% of ECS with Ezra and Chiyoda retaining 40% and 35% shareholding, respectively, upon completion of the transaction.
While the addition of Chiyoda’s complementary expertise added depth and breadth to ECS’ operational offerings when it was completed in March 2016, NYK’s participation is expected to augment the collective know-how and expertise in global expansion strategies, harnessed through NYK’s 130-year experience in ship management and operation.
Mr. Tadaaki Naito, President, President Corporate Officer of NYK, said, “I am delighted that we can offer another range of service in offshore
segment by joining into ECS. With reliable partners, I believe this opportunity
would create strong alliance and I am excited that we would be able to
contribute to worldwide offshore development,
including that in our home country.”
Mr. Shogo Shibuya, President and CEO of Chiyoda Corporation, said, “Under our Medium-Term Management Plan “Seize the moment, Open up new frontiers” made in 2013, Chiyoda has been focusing on expanding its business to Offshore and Upstream field. After the establishment of EMAS CHIYODA Subsea in March 2016, today, I am excited that Ezra, Chiyoda and NYK reached the agreement for NYK to join into ECS. I am confident that the participation of NYK will accelerate the growth of ECS’s capability as a leading offshore EPCI contractor.”
Commenting on this latest strategic investment, Mr. Lionel Lee, Group CEO and Managing Director of Ezra Holdings, said,
“We are extremely delighted at the latest development that has resulted from continued strategic interest in the EMAS CHIYODA Subsea business and would like to extend a warm welcome to NYK as an integral partner to the EMAS CHIYODA Subsea family. This investment by yet another established name in the offshore and marine space is a strong authentication of the strength, global standing and long-term prospects of our subsea business.”The closing of the joint venture transaction is subject to, amongst other things, the approval of Ezra’s shareholders and the satisfaction of other customary closing conditions. Assuming these conditions are met, the transaction is expected to close by the third quarter of calendar year 2016.
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Already, lubricant players have established their footholds here in Bangladesh, with international brands.
However, the situation is being tough as too many brands entered in this market. So, it is clear, the lubricants brands are struggling to sustain their market shares.
For this reason, we recommend an impression of “Lubricants shelf” to evaluate your brand visibility, which can a key indicator of the market shares of the existing brands.
Every retailer shop has different display shelves and the sellers place different product cans for the end-users. By nature, the sellers have the sole control of those shelves for the preferred product cans.The idea of “Lubricants shelf” may give the marketer an impression, how to penetrate in this competitive market.
The well-known lubricants brands automatically seized the product shelves because of the user demand. But for the struggling brands, this idea can be a key identifier of the business strategy to take over other brands.
The key objective of this impression of “Lubricants shelf” is to create an overview of your brand positioning in this competitive market.
A discussion on Lubricants Shelves; from the evaluation perspective, a discussion ground has been created to solely represent this trade, as well as its other stakeholders.Why “Lubricants shelf” is key to monitor engine oil market?
The lubricants shelves of the overall market have already placed more than 100 brands altogether and the number of brands is increasing day by day.
And the situation is being worsened while so many by name products are taking the different shelves of different clusters. This market has become more overstated in terms of brand names and local products.
You may argue with us; lubricants shelves have no more space to place your new brands. You might get surprised by hearing such a statement. For your information, it’s not a surprising one.
Regularly, lubricants retailers have to welcome the representatives of newly entered brands.
And, business Insiders has depicted this lubricants market as a silent trade with a lot of floating traders.
On an assumption, the annual domestic demand for lubricants oils is around 100 million litres, whereas base oil demand around 140 million litres.
However, the lack of market monitoring and the least reporting makes the lubricants trade unnoticeable to the public.
Headline crude prices for the week beginning 11 February 2019 – Brent: US$61/b; WTI: US$52/b
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