The three Japanese partners have opted for a neutral name choice of ‘Ocean Network Express’ (ONE) that eschew the long shipping history of each of the partners. The name also avoids mentioning the Japanese origins of the three partners.
Kawasaki Kisen Kaisha (K Line), Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kabushiki Kaisha (NYK) have announced on 31 May 2017 that their new container shipping joint venture will operate under the tradename ‘Ocean Network Express’ (ONE).
The establishment of the joint venture, which will integrate the three companies’ container shipping businesses (including worldwide terminal operation businesses, excluding those in Japan), was first announced on 31 October 2016.
The new holding company is to be established in Japan, with an operating company planned in Singapore. In addition, regional headquarters will be set up in Singapore, Hong Kong, UK (London), USA (Richmond, VA), and Brazil (Sao Paulo).
The joint venture’s shareholding is held by NYK with 38%, MOL with 31% and K Line with 31%. It is expected to be established on 1 July 2017 and the commencement of the joint business is planned on 1 April 2018.