Japan’s big three lines set up holding and operating firms for ONE
Japan’s big three shipping groups – K Line, MOL and NYK – have officially established Ocean Network Express (ONE), making further progress on the integration of their container shipping businesses.
On 7 July, K Line, MOL and NYK have set up a holding company for ONE in Tokyo, and an operating company in Singapore.
The combined container fleet of the Japanese trio is expect for formally commence operations from 1 April 2018.
“For the integration of their container shipping businesses, including worldwide terminal operation businesses outside Japan, Kawasaki Kisen Kaisha, Mitsui OSK Lines, and Nippon Yusen Kabushiki Kaisha have announced the establishment of the holding company and operating company,” the trio said in a joint statement.
The Japanese lines had received approvals for compliance with local competition laws in regions and countries where compliance is required, except in South Africa where the Competition Commission of South Africa has rejected ONE’s establishment.