News

2018 April 2 10:43

Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines, Ltd., and Nippon Yusen Kabushiki Kaisha form new joint venture in the container shipping business

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), which was established in July 2017, with  service commencing on April 1, 2018, as follows. 

Payment of investment  Investee: Ocean Network Express Pte. Ltd. (location:  Singapore)  Amount of investment: Total US$3.0 billion  (The following changes have been made to the origin al plan:  - Paid all in cash without any investment in kind.  - Assets intended as in-kind contributions will be  transferred at market value in the future.)  Payment completion date: April 2, 2018. 

Shareholders/Contribution Ratio: Kawasaki Kisen Kai sha, Ltd. 31%, Mitsui O.S.K. Lines, Ltd. 31%,  Nippon Yusen Kabushiki Kaisha 38%.