Tata Steel and the shipping line Nippon Yusen Kabushiki Kaisha entered into a joint venture agreement for setting up a shipping company to cater to dry bulk and break bulk cargo. Tata Steel and NYK will each hold 50 percent stake in the joint venture company. Mr. B Muthuraman, Managing Director, Tata Steel said "In future Tata Steel would require to transport large quantities of raw materials and finished steels, which necessitates strategic control over logistics. This joint venture is a step in that direction. Besides we see a huge potential for this company in India."
Latest from Recycling Today
- Ocean freight interruptions poised to continue
- Danieli to supply shredder to Australian company
- Equipment from the former Alton Steel to be auctioned
- Novelis resumes operations in Greensboro, Georgia
- Interchange 360 to operate alternative collection program under Washington’s RRA
- Waste Pro files brief supporting pause of FMCSA CDL eligibility rule
- Kuraray America receives APR design recognition for EVOH barrier resin
- Tire Industry Project publishes end-of-life tire management guide
