NYK sells 50% of cruise business to ASP

Japan's NYK is bringing in domestic vessel manager Anchor Ship Partners (ASP) to help develop its cruise business.

ASP is buying a 50% stake for an undisclosed sum, but NYK said it expects to book a gain of JPY 8bn ($73m) for the year ending 31 March from the deal.

The cruise unit was set up in 1989 for the domestic market.

It operates the the 50,000-gt Asuka II (built 1990).

The giant shipowner said: "We will invest in the cruise business together with ASP and provide high quality and attractive services while maintaining the traditions of Asuka that we have cultivated so far.

In 2015, NYK sold its Crystal Cruises unit to Genting Hong Kong.