Tsuneishi Shipbuilding, Japanese shipbuilder, delivered the “Sunshine Pride” coal carrier to work for Joban Joint Power, operated by NYK Line, while a delivery ceremony was conducted at the same time. The vessel has been already equipped with a scrubber system, compliant with IMO’s regulations, making it environmentally friendly.
Ocean Network Express Pte. Ltd. officially commenced container shipping businesses on 1 April 2018. ONE is the result of an integration of the container operations of three Japanese shipping carriers, K Line, MOL, and NYK. The new joint-venture seeks to respond to the imbalance of supply and demand in the container shipping industry.
Currently 67 shipping lines operate fully cellular containerships in the container shipping industry. However, more than 87% of fleet capacity is controlled by only 10 of them, representing just fewer than 7% of the total lines.
ONE is a joint venture formed by K Line, MOL, and NYK, who informed that they will begin its business operations on April 1, 2018. Once ONE’s business operations starts, there will be up to four companies, namely ONE, K Line, MOL, and NYK operating on the same service in the same time during the transitional period until three pre-existing lines completely stop operating vessels.
The business integration of the three major Japanese container shipping companies, K Line, MOL and NYK, is expected in April of this year, marking a new beginning in the global supply chain. Ocean Network Express, aims to provide more competitive services, responding to the imbalance of supply and demand in the container shipping industry.
The NYK-TDG Maritime Academy, which NYK operates in the Philippines, announced it has conducted an international short-term student-exchange program with national maritime schools in Japan during the months of August through October 2017.
NYK’s decision of liner integration with two other Japanese companies will have far-reaching impacts on its business, stressed NYK’s president Tadaaki Naito, addressing the group’s employees, on the occasion of the company’s 132nd anniversary, on 2 October.
The Fair Trade Commission of South Korea (KFTC) announced that several companies, including Japanese MOL, have breached South Korean antitrust law with respect to car carrier services.
The Australian Federal Court announced that NYK has been convicted of criminal cartel conduct and is ordered to pay a fine of $25 million, which is the second-highest imposed in ACCC history. Following an extensive investigation, NYK was charged of giving effect to cartel provisions in an arrangement or understanding with other shipping lines relating to the transportation of motor vehicles to Australia between 2009 and 2012.
MOL, NYK and K Line announced that the joint venture planned has received all necessary approvals for compliance with local competition laws, confirming that there is no impact on the three companies’ integration plans for the new container shipping business. The service commencement date for the new company is likewise unchanged from 1 April 2018.
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- Green Shipping
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