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.