Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines, Ltd., and Nippon Yusen Kabushiki Kaisha today announced the completion of payment for investment in their new joint venture in the container shipping business, Ocean Network Express Pte. Ltd. (ONE).
The JV was established in July 2017, with service commencing on April 1, 2018 with a total investment of USD 3 billion. The JV will be offering 85 services, calling at over 200 ports in 100 countries.
Key Facts about ONE Investment:
– Paid all in cash without any investment in kind.
– Assets intended as in-kind contributions will be transferred at market value in the future.
The shareholders ratio among Kawasaki Kisen Kaisha, Mitsui O.S.K. Lines and Nippon Yusen Kabushiki Kaisha is – 31%, 31% and 38% respectively. A total of 230 vessels will be involved in the ONE network estimated at 1.44 million TEU.
Sea News, April 2