NYK, Japan’s biggest shipping company, expects to derive more than 30% of its revenues from its operations in China by 2007.

Currently China contributes only 18% of NYK’s revenues but investments in containers, car carriers, dry bulk and LNG are set to raise the country’s importance to the Japanese company.

NYK president, Koji Miyahara (left), giving an optimistic outlook on his company ‘s prospects in China, said his company was planning investing in car terminals in Nansa (near Guangzhou) and Tianjin in partnership with Cosco Pacific with which it already has a car carrier joint venture.