NYK sold 50% of the shares of its subsidiary NYK Cruises, to Japan-based, Anchor Ship Partners (ASP). According to the agreement, which was announced on January 24, there will be a joint operation of the cruise business. The two companies did not reveal the price behind the deal, which is expected to be completed by the end of March 2019.
Japanese NYK announced a schedule update regarding its plans to form a joint holding company to integrate the management of the four NYK Group terminal operation companies in Japan, through a new joint holding company that will be established by NYK and Mitsubishi Logistics Corporation (MLC), as announced in August 2018.
ONE launched its first quarterly results for the 2018 fiscal year, reporting a net loss of USD 120 million, due to operational teething problems. ONE is comprised of NYK, MOL and K Line. The teething problems affected service quality during the operation start-up period.
Japanese K-Line’s plea follows an investigation by the Australian Competition and Consumer Commission and charges laid by the Commonwealth Director of Public Prosecutions, in relation to cartel conduct concerning the international shipping of cars, trucks, and buses to Australia. NYK had also pleaded guilty in July 2016.
The European Commission found that the Chilean CSAV, the Japanese K Line, MOL and NYK, and the Norwegian-Swedish WWL-EUKOR participated in a cartel concerning intercontinental maritime transport of vehicles, and imposed a total fine of €395 million. All companies acknowledged their involvement in the cartels and agreed to settle the cases.
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