Japan's NYK Line buys Total out of LNG company

NYK Line takes over control and the remaining shares of a French ship management company in the LNG sector, which the company has till now owned together with Total.

Photo: Issei Kato/Reuters/Ritzau Scanpix

Japanese shipping company NYK Line buys oil company Total out of a till-now jointly owned French ship management company for LNG ships.

NYK Line has till now only controlled one fifth of company Gazocean, headquartered in Marseilles, France, and which handles operation of six LNG ships. But the Japanese shipping company has now agreed with Total to buy the oil major's 80 percent stake of the company.

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