Japanese class society expands marine sector business

27 Jun 2011

ClassNK has announced an agreement to establish a capital tie-up with Japan Marine Science, a maritime consulting firm involved in maritime IT development, analysis, training, and software systems.

The deal will see ClassNK take a stake of about 20% in the Tokyo-based company, which will issue new shares in exchange for a capital investment from the classification society. ClassNK managing director Koichi Fujiwara will take a position on Japan Marine Science’s Board of Directors. The investment marks the first time that ClassNK has invested money directly into an outside organisation, and closely follows a change in ClassNK’s legal status in April 2011, which gave the society a greater range of freedom in its operations.

According to Fujiwara the tie up presents an important step forward for both companies. “With this partnership, we will be able to take advantage of the expertise and specialised knowledge that both our organisations have developed over the years, and apply it to developing new solutions to the challenges faced by the maritime industry, including for example developing comprehensive IT systems to support vessel operations, and other advanced technology development.”

“With targeted investments like this one with Japan Marine Science,” said Fujiwara. “it is our hope that we can help spark innovation, and play a more active role in the ongoing development, and continued success of the global maritime industry.”

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