On October 27, Nippon Yusen Kabushiki Kaisha (NYK Line) and the Port of Duqm Company (PODC), which oversees port management and terminal operations in Oman, signed a comprehensive memorandum of understanding (MOU) at Duqm Economic Forum 2025* to collaborate in the development and connectivity of the port of Duqm.

NYK has positioned the Middle East as one of its key strategic regions. On April 1, 2022, NYK established its Middle East region head in Dubai to deepen its regional strategy and enable more agile business development across the area.

Oman, while endowed with natural gas resources, is also globally recognized for its strong potential in renewable energy, which may lead the country to produce cost-competitive green hydrogen.
In particular, the port of Duqm, strategically located outside the Strait of Hormuz, offers significant geographic advantages with its proximity to the Middle East, India, and East Africa.
Furthermore, the area has been designated as the Special Economic Zone at Duqm (SEZAD), offering a range of incentives to attract both heavy and light industries, alongside ongoing infrastructure development.
The port is currently promoting direct reduced iron (DRI)**, a green steel product, and is expected to become a hub for the production and export of hydrogen and ammonia, leveraging abundant renewable energy sources such as wind and solar power.

Through the signing of this MOU, NYK aims to accelerate concrete discussions with PODC across multiple domains, including support for the green steel industry, the development of alternative solutions for finished vehicle transportation within the Middle East region, and the production and maritime transport of green energy such as hydrogen and ammonia.

Yuji Otsuka, General Manager of Dry Bulk & Energy Business Co-ordination Group, NYK Line
“We are delighted to have signed a MOU with PODC, marking a new phase in our collaborative relationship following our previous discussions.
We will engage in concrete discussions with PODC to build a better supply chain, taking into account the geographical advantages of the port of Duqm and the potential of hydrogen and ammonia production utilizing renewable energy.”

Reggy Vermeulen CEO, Port of Duqm Company SAOC　
“We are very proud of our collaboration with NYK Line, one of the most respected and globally renowned shipping lines. The signing of this MOU is a testament to the strong alignment of vision between NYK and PODC. It reflects our shared commitment to unlocking new growth opportunities and establishing Duqm as a strategic maritime hub in the region.
We are confident that this collaboration will make a significant positive contribution to the development and economic growth of Duqm and the Sultanate of Oman.”

* Duqm Economic Forum 2025
An international economic event held in the Special Economic Zone at Duqm, bringing together representatives from government, industry, investors, and academia to discuss sustainable growth and innovation. The previous edition was held in 2023.

** Direct Reduced Iron (DRI)
Steel that eliminates the need for coke (carbon) in the steelmaking process by using hydrogen to remove oxygen from iron ore, thereby avoiding carbon dioxide emissions. As a result, DRI is recognized as environmentally friendly, green steel. Consequently, various forms of marine transportation of reduced iron are expected to become increasingly active, facilitating the movement from production areas — rich with energy resources such as natural gas — to areas with high demand. This trend underscores the necessity for robust cargo management on board ships to mitigate the risks of overheating, fire, and explosion during transport, while also enhancing the working environment for seafarers. In line with these developments, on November 8, 2024, NYK filed a patent application for a technology designed to improve the safety and quality of reduced iron transportation.