NYK, which operates one-ship luxury line Asuka Cruise, is poised to sell half its cruise business to Anchor Ship Partners, a Japanese ship management and investment company.

A sales price was not listed, and the deal is expected to close in March for 50 percent of the shares of Yusen Cruise Co., Ltd.

Anchor said in a prepared statement it plans to procure further funding for the cruise operation to maintain a high-quality, luxury operation aboard the 960-guest Asuka II, the former Crystal Harmony.

“The cruise market in Japan is steadily expanding while expanding its base with the entry of foreign shipping companies,” Anchor said, in a prepared statement, adding that it is a long-term investment and it plans to continue further development of the Asuka brand.

Anchor said it is planning a major refurbishment to the 1990-built ship, and that plans include building a new vessel that would be viewed as “No. 1 in the world cruise market.”

“We believe that it is necessary,” the company said.

NYK will continue to be involved in the management of the vessel. 

Of note, NYK sold Crystal Cruises to Genting Hong Kong in 2015.