Japan’s big three ocean liners have announced the new name “Ocean Network Express” for their merged container shipping entity.
The new joint venture of Mitsui OSK Lines (MOL), Kawasaki Kisen Kaisha (K Line) and Nippon Yusen Kaisha (NYK) will operate under the trade name Ocean Network Express (ONE), and is scheduled to launch next April. The combined fleets will boast approximately 1.4 million slots, and according to Alphaliner would make them currently 5th in the market with approximately 7% of global share.
The group has stated that the HQ will be out of Singapore and in addition, regional headquarters will be set up in Hong Kong, London, Richmond, and Sao Paulo.
The three firms joint press release said that, “The move will allow Ocean Network Express to better meet customers’ needs by providing high-quality, competitive services through the consolidation and enhancement of the three companies’ global network and service structures.”