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ONE starts shipping business with $3 billion in cash

03 Apr 2018

The Japanese shipping alliance Ocean Network Express (ONE) has started business on 2 April, 2018 after receiving payment of investment from its stakeholders.

The joint venture between Kawasaki Kisen Kaisha (31%), Mitsui O.S.K. Lines (31%), and Nippon Yusen Kabushiki Kaisha (38%) will consist of about 230 vessels with total capacity of 1.44 million twenty-foot equivalent unit (TEUs).

“The integration lets ONE to incorporate best practices from the three companies and to take advantage of their combined 1,440,000 TEU fleet size.

“Supported by a worldwide high level, globally-connected organization, it offers 85 service loops and a comprehensive network linking more than 200 of the world’s major ports.

“The start of container shipping operations is in line with the initial schedule laid out when the company was established on July 7, 2017.

“ONE is focused on offering superior quality and the most competitive service throughout its network.

“Each service has been developed to provide clients with the highest level of satisfaction. ONE aims to transform the global container business with totally new and innovative services.”

Related: ‘K’ Line, Mitsui, NYK container shipping JV on schedule

Photo credit: Ocean Network Express
Published: 3 April, 2018

 

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