Post by on 2018-04-06
THE three largest Japanese shipping companies - "K" Line, MOL and NYK - that comprise the Ocean Network Express Pte Ltd (ONE) have completed an aggregate investment of US$3 billion into the new joint venture company early this week.
The joint venture is an integration of the three companies' container shipping businesses, including worldwide terminal operations businesses, but excluding those in Japan.
Established one year ago, ONE actually commenced operations on Sunday, April 1, American Shipper reported.
Each company made its investment in cash. The amount contributed by each was prorated according to what percentage of ONE it owns. "K" Line and MOL each own 31 per cent of ONE, while NYK holds a 38 per cent stake.
ONE has about 230 vessels with an aggregate capacity of 1.44 million TEU operating in 85 services that call more than 200 ports in 100 countries.
BlueWater Reporting's Carrier Ranking Report shows NYK has an operating fleet capacity of 543,321 TEU, followed by MOL at 506,909 TEU and "K" Line at 304,565 TEU.