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Ocean Network Express

Merger of Japanese shipping operators established the sixth largest container carrier

The merger of Japanese shipping operators established the sixth largest container carrier in the world – Ocean Network Express (ONE). Kawasaki Kisen Kaisha (K Line), Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kabushiki Kaisha (NYK) decided to merge their container divisions in single carrier, which will be the world’s sixth largest. The new company will start operations on April 1.

Last year the company received approval from the governments around the world and this week was officially announced.

Ocean Network Express (ONE) will operate 250 container ships on routes connecting all the continents. The Japanese carrier will launch its first 33 services in April, but start accepting bookings as early as February while it ties loose ends.

The container carrier will have capacity for 1.4 million TEU and market share of 6.9%, slightly lagging behind Hapag-Lloyd with 7.2% market share. The company can now be considered a powerhouse on East West trades and the second-largest partner in THE Alliance.

Ocean Network Express (ONE) was registered in Japan with headquarters in Singapore. The CEO of the company will be the formed General Director of NYK – Jeremy Nixon.

About Angelina Nieves

Angelina Nieves is 25-year-old girl from Tula, Mississippi, USA. She was appointed as finance analyst and writer at Finance Apprise Journal, responsible for South and Central American economy, as well as African region.

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