h The Beginning of the Ocean Network Express

The Beginning of the Ocean Network Express

The Beginning of the Ocean Network Express

Article #94

As of October 31st, 2016, the establishment of the Kawasaki KisenKaisha, Ltd., Mitsui O.S.K. Lines, Ltd., and the Nippon Yusen Kabushiki Kaisha joint venture was announced, however it was not until yesterday that the official title was released.

When service commencemences on the 1st of April, 2018, the group will trade under the name Ocean Network Express. According to the group's website, their name was developed to inspire a global shipping industry "revolution", due to their integrated partnership. Between the announcement and official release, there was much debate and rumour about the potential name, which included J-3 and San-line.

The Ocean Network Express current controls 1.4m TEU, and has a 7% global share of the market (ranking 5th). Market analysts have lauded the decision, recognising the limited potential that each company would have if it was to continue running at a 2-3% market share.

The three lines are currently in The Alliance along with Hapag-Lloyd, Hanjin Shipping Co. and Yang Ming Marine Transport Corp. Analysts have also stated that the merge will allow greater ease in The Alliance's ability to reduce costs, and reach common ground.

The Ocean Network Express holding company will be located in Tokyo, Japan, global headquarters will be in Singapore and regional headquarters will be in Hong Kong, Singapore, London, Richmond (USA), Sao paulo (Brazil).

Source: http://oceannetworkexpress.com