Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines, Ltd., and Nippon Yusen Kabushiki Kaisha announce that their new joint venture company, Ocean Network Express Pte. Ltd., established in July 2017, has received all necessary merger approvals from local competition authorities in regions and countries where such approvals are required for the launch of service by the newly established joint venture company.
As announced on July 3, 2017, the J/V company has completed the approval process in all regions and countries except South Africa as of the end of June 2017. Following continued negotiations with the competition authority in that country, the J/V company yesterday obtained approval with conditions requiring measures regarding competition law compliance.
ONE (Ocean Network Express Pte. Ltd.) is a major new global container shipping company, that comes to market in 2018, and will offer an extensive liner network service portfolio covering over 100 countries internationally. It’s key focus will be on enhanced service and innovation, supported by a highly professional and experienced staff organization with a strong financial balance sheet. The new company’s global headquarters will be in Singapore, to further enhance its intended strong international trading presence.
With a global fleet of over 250 vessels, active participation in all major global trade lanes, deployment of the latest IT systems and an extensive terminal ownership portfolio, ONE positions itself as being “large enough to survive, but still small enough to care”.
