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'K' Line sets up JV to handle vehicles from car carriers in India

JAPAN's "K" Line has set up a joint venture offering cargo handling services in India, called Nitto Baxi Private Ltd with its group company Nitto Total Logistics Ltd and its business partner JM Baxi & Co, which has been engaged in the shipping sector since 1916. Based in Mumbai, Nitto Baxi Private Ltd initially plans to provide stevedoring services and handle vehicles transported by car carriers. Further down the line, the company intends to offer similar services to other types of vessels as well.

A statement from the Japanese shipping company said Nitto Baxi Private Limited will provide safe and efficient cargo handling services by leveraging "superior" Japanese systems and controls and the cargo handling experience of Nitto Total Logistics.

"K" Line has a 10 per cent stake in the JV, while JM Baxi & Co holds a 50 per cent share and Nitto Total Logistics the remaining 40 per cent.

The "K" Line group anticipates the logistics sector will contribute "stable" earnings under its medium-term management plan, adding that it plans to "develop logistics business in rapidly developing countries surrounding Asia".

JM Baxi & Co's offering in India includes agency services, terminal operation, cargo handling, chartering and brokering, and marine transportation. It has already established a joint venture company with "K" Line, called "K" Line (India) Private Limited. As an agent of "K" Line it provides agency services, cargo customs clearance, inland transportation and warehousing.