The NYK Group, Stolt Tankers B.V. ("Stolt Tankers"), and ENEOS Ocean Corporation ("ENEOS Ocean") launched a chemical ship pool business in the Asia-Pacific region (the "Project"*) in October.

The project started with 13 vessels comprising two chemical tankers owned by ENEOS Ocean and 11 chemical tankers owned by a joint venture** between the NYK Group and Stolt Tankers. The vessels are equipped with stainless steel tanks capable of transporting various chemical products, thus allowing the companies to respond flexibly to shippers' transportation needs. Through this business with Stolt Tankers and ENEOS Ocean in the chemical market, where demand is strong, the NYK Group aims to provide high-quality transport services through a competitive fleet.

NYK Executive Officer Yuji Nishijima
We have a strong relationship with Stolt Tankers, boasting unrivaled experience spanning over 30 years in the chemical tanker business. Additionally, we have a deep trust-based relationship with ENEOS Ocean, primarily in the field of crude oil tankers. We are delighted to have taken this step into the chemical tanker pool operation based on these relationships. We look forward to co-creating further value*** with these reliable partners, Stolt Tankers and ENEOS Ocean.

Stolt Tankers B.V. President Lucas Vos
I am particularly pleased with this agreement as it expands Stolt Tankers’ presence in the region while expanding our tonnage partners in Japan. I would like to thank NYK and ENEOS Ocean for their dedication to bringing this partnership to life, and the trust they have placed in us.

ENEOS Ocean Corporation Director, Executive Officer Masahito Hirano
We start the pool operation with Stolt Tankers and NYK which enhances competitiveness in the chemical tanker market. We are thrilled to be able to collaborate with these two global leaders. Through this pool, we aim to provide detailed and attentive transportation services to meet the diversifying needs of customers and achieve greater safety in operations. Additionally, we are committed to addressing specific environmental measures to adapt to the rapidly changing business environment.

* Pool business
Shipowners and operators pool their vessels and undertake transportation services at the request of shippers. The pool business allows more flexible transportation services that utilize economies of scale.

** Joint venture between NYK Group and Stolt Tankers
Company Name: NYK Stolt Shipholdings Pte, Ltd.
Headquarters: Singapore
Shareholders: NYK Group Europe Ltd. (50%), Stolt Tankers B.V. (50%)

*** Co-creating further value
In the medium-term management plan announced by the NYK Group on March 10, 2023, one of our aspirations for 2030 is "co-creation.” This project is part of our activities to achieve evolution and growth through co-creation, which has been part of our culture since our founding.

On March 10, 2023, the NYK Group released its medium-term management plan “Sail Green, Drive Transformations 2026 - A Passion for Planetary Wellbeing. ” The NYK Group is promoting growth strategies with ESG at the core, based on the Group’s mission statement of “Bringing value to life” and a new corporate vision for 2030, which reads, “we go beyond the scope of a comprehensive global logistics enterprise to co-create value required for the future by advancing our core business and growing new ones.”