NYK, MOL and “K” Line, which make up the Ocean Network Express, completed an aggregate investment of $3 billion into the container shipping joint venture, which commenced operations on Sunday.
The three shipping companies that comprise the Ocean Network Express Pte. Ltd. (ONE) have completed an aggregate investment of $3 billion into the new joint venture company on Monday.
ONE includes Japan’s largest three shipping companies – Kawasaki Kisen Kaisha, Ltd. (“K” Line), Mitsui O.S.K. Lines, Ltd. (MOL), and Nippon Yusen Kabushiki Kaisha (NYK). 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.
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 percent of ONE, while NYK holds a 38 percent stake.
ONE has about 230 vessels with an aggregate capacity of 1.44 million TEUs 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 TEUs, followed by MOL at 506,909 TEUs and “K” Line at 304,565 TEUs.