Japanese Carriers Set up ONEJoint Venture Company

The world’s sixth-largest liner shipping company was officially established in Tokyo today with One Network Express (ONE) bringing together the container divisions of Japan’s three major carriers in a joint venture.

News ID: 74835

Date: 08 July 2017 - 12:00

According to MANA, Kawasaki Kisen Kaisha, Mitsui OSK Lines, and Nippon Yusen Kabushiki Kaisha established a holding company in Tokyo and an operating company in Singapore. ONE has 250 ships and a capacity of 1.38 million teu, and the joint venture integrates the three companies’ container shipping businesses, including their terminal operation businesses outside Japan.

The shareholding structure will have NYK holding 38% and 'K' Line and MOL each holding 31%. MOL, NYK, and 'K' Line are currently individual members of the vessel sharing agreement with Hapag-Lloyd-UASC and Yang Ming Line. The carriers have said they expect higher rates and greater container volume to come from the membership with THE Alliance.