‘K’ Line, Mitsui, NYK container shipping JV on schedule
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by Admin
Ocean Network Express, a joint venture container shipping company founded by Japanese shipping firms Kawasaki Kisen Kaisha, Mitsui O.S.K. Lines, and Nippon Yusen Kabushiki Kaisha is on schedule to start operations on 1 April, 2018.
The 2017 established company has now received all necessary merger approvals from local competition authorities in regions and countries where such approvals are required, they said in a joint statement.
“As announced on July 3, 2017, the J/V company had completed the approval process in all regions and countries except South Africa as of the end of June 2017,” according to the statement.
“Following continued negotiations with the competition authority in that country, the J/V company today obtained approval with conditions requiring measures regarding competition law compliance.
“The service commencement schedule for the new company remains unchanged, with operations slated to begin on April 1, 2018.”
Publication date: 22 January, 2018
