Business, Freight News, Sea

NYK, K-Line, MOL form the Ocean Network Express

[ June 13, 2017   //   ]

K-Line officials said in a statement that the establishment of this joint venture will integrate the companies’ container shipping businesses, including worldwide terminal operation businesses, excluding those in Japan, as per the Notice of Agreement to the Integration of Container Shipping Businesses. That notice was released on Oct. 31, 2016.

The establishment of a holding company is currently planned in Japan, with an operating company planning to be incorporated in Singapore, as well as regional headquarters located in Singapore, Hong Kong, United Kingdom (London), United States (Richmond, VA), and Brazil (Sao Paulo).

“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,” K-Line said.