Japanese carrier Ocean Network Express (ONE) will start accepting bookings for its container shipping service in stages from February 1, 2018.
The joint venture company of Japan’s shipping trio Kawasaki Kisen Kaisha, Mitsui O.S.K. Lines, and Nippon Yusen Kabushiki Kaisha is scheduled to start its business operations on April 1, 2018.
With the commencement of ONE’s business operations, there will be up to four companies, namely ONE, K Line, MOL, and NYK Line operating on the same service concurrently during the transitional period until three pre-existing lines completely stop operating vessels.
In January 2018, the trio received all necessary merger approvals from local competition authorities for their joint venture company, which integrates the three carriers’ container shipping businesses and terminal operation businesses outside Japan.
Established in July 2017, ONE would operate a fleet totaling 1.4 million TEUs, placing it as sixth in the market with approximately 7 percent of global share.
K Line and MOL will each hold 31 percent, and their compatriot NYK Line will hold the remaining 38 percent stake in the JV.