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News ID: 69993 |
Publish Date: 11:47 - 12 November 2016

World Shipping Lines applaud Japanese merger

Maersk Line has welcomed the combination of the fleets owned by the three big Japanese owners, announced earlier today.

World Shipping Lines applaud Japanese mergerAccording to MANA, The Danish rival sees the fresh development as a positive sign for the industry, while it is not expecting any short-term impact on its business as such.
NYK, MOL and K Line revealed plans to integrate their liner fleets in an effort to reduce costs by about JPY 110bn ($1bn) per year.
The new Japanese alliance is expected to begin operations with the start of the Japanese financial year on 1 April 2018.
VesselsValue estimates that the combined fleet will be the third in terms of owned tonnage, only behind Maersk and Cosco.
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