NYK cuts ship spending

The Japanese shipping giant NYK Line will reduce spending for new ships by about 15 per cent for the coming three years. NYK previously planned to invest USD 13.5–14.7 billion to expand its fleet, the spending includes both newbuildings and chartered tonnage, but the company has now decided to reduce the investment by USD 1.7–2.25 billion.

NYK Line’s fleet consists of about 800 ships, of which a little over half are chartered.

Source: http://www.shipgaz.com