Three Japan-based container shipping carriers, Kawasaki Kisen Kaisha, Ltd. (K-Line), Mitsui O.S.K. Lines, Ltd. (MOL) and Nippon Yusen Kabushiki Kaisha (NYK) have created a new joint venture, entitled Ocean Network Express (ONE), that will Will begin its activity in April 1st 2018.
While the holding company will be situated in Tokyo/Japan, the global headquarter will be located in Singapore with regional headquarters in Hong Kong, London, Richmond (US) and Sao Paulo (Brazil). This joint venture will integrate the companies’ container shipping businesses, including worldwide terminal operation businesses, excluding those in Japan. The Ocean Network Express will have a fleet of 1.4 million TEUs, it will be firth in the market with around 7% of global share. K Line and MOL, will each hold 31 percent, and their compatriot NYK Line, will hold the remaining 38 percent.
