ONE Drags Down NYK Line Earnings
Container line joint venture Ocean Network Express (ONE) dragged down NYK Line in the first half of 2018 ended September 30 with with Japanese shipping group in the red.NYK Line reported a loss of JPY 9.7 billion for the six months ended September 30, compared with a JPY6.2 billion profit a year earlier. The consolidated revenues amounted to JPY 915.6 billion, down from JPY 1,064.2 billion in the same period of the previous fiscal year.The new shipping line ONE, which was established with the aim of integrating the container shipping business with those of Kawasaki Kisen Kaisha, Ltd.
Ocean Express Network Incurs a USD600 mln Loss in First Year
Japanese carrier Ocean Network Express (ONE) is set to see losses spiral to $600m in its first year, says its revised consolidated business forecast for FY2018 (April 1, 2018 to March 31, 2019).The integrated container shipping operating company, which was established by Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines Ltd., and Nippon Yusen Kabushiki Kaisha, said in a press statement that the loss is attributed to its struggle with a new information technology, staff shortages and a rapidly rising fuel costs.Singapore-headquartered ONE…
ONE Accepts Delivery of 14,000 TEU Box Ship
Singapore headquartered container carrier Ocean Network Express Pte. Ltd. (ONE) has taken delivery of a new 14,000 TEU-class containership from Japanese shipbuilder Imabari Shipbuilding Co., Ltd, on July 24, 2018.The new ultra-large containership, One Minato, was built at Imabari’s Hiroshima yard and joins the ONE fleet under sublet from Kawasaki Kisen Kaisha, Ltd.
NYK Group Celebrates Successful O3 Challenge
Symphony Creative Solutions (SCS) an NYK Group company, held a thank you party with Ocean Network Express (ONE) at ONE’s head office to celebrate a successful Ocean of Opportunities Challenge (O3 Challenge), a contest for startups that was conducted from April to June 2018.Partners including NUS Enterprise and the Maritime and Port Authority of Singapore (MPA) were in attendance, and the solutions of the three O3 Challenge winners were introduced.The O3 Challenge, a worldwide contest aimed at creating new value through open innovation in the maritime industry…
Ocean Network Express Calls APM Terminals Mumbai
NYK ARTEMIS, part of Ocean Network Express’s (ONE) PS3 service made its maiden call at APM Terminals’ Gateway Terminals of India (GTI) offers connectivity to the Far-east Asian ports along with United States West Coast ports of Oakland and Los Angeles. This is the first call by the newly established ONE line to Mumbai’s Nhava Sheva terminal. ONE was established in 2017 by the integration of three Japanese shipping companies - Kawasaki Kisen Kaisha Ltd ("K" Line), Mitsui O.S.K. Lines Ltd (MOL) and Nippon Yusen Kabushiki Kaisha (NYK).
"K” Line (India) Shipping Joins INSA
“K” Line (India) Shipping Private Ltd (KLISP), affiliated company of Kawasaki Kisen Kaisha Ltd., joined Indian National Shipowner’s Association(INSA) at the end of January 2017. KLISP was established in 2014 and actively participates in Indian Coastal Trade as well as International Trade business as an Indian Shipping company. In the same year, KLISP successfully entered into a long-term CVC contract with an Indian Charterer. From December 2016, KLISP acquired ownership of an Indian flag vessel…
MPA Honors Patrick Phoon
Ocean transportation firm, “K” Line Pte Ltd, and Patrick Phoon, Deputy Managing Director of Evergreen Shipping Agency, received the International Maritime Centre (Corporate) Award and the International Maritime Centre (Individual) Award respectively. The Maritime and Port Authority of Singapore (MPA) has honoured ten industry partners who have made outstanding contributions to Singapore's development as a premier global hub port and a leading international maritime centre at the Singapore International Maritime Awards (IMA) 2017.
U.S. FMC Unanimously Rejects Proposed Tripartite Pact
U.S. Federal Maritime Commissioner William P. Yesterday, I voted to reject the Tripartite Agreement proposed by Kawasaki Kisen Kaisha, Ltd. (K Line); Mitsui O.S.K. Lines Ltd. (MOL); and Nippon Yusen Kaisha (NYK). This agreement was unanimously rejected by the Commissioners on the Federal Maritime Commission (FMC). This decision by the FMC in no way precludes the Japanese carriers from merging their container trade business units into a single stand-alone company. Rather, the vote…
A Full Agenda for the International Container Trades
The past couple of months have been chock-a-block full of maritime activity in the international container trades. As the Big-3 Japanese Lines remain still on track to spin-off their container business units into a single standalone container carrier company, some delayed merger and acquisition activity is finally moving ahead. Separately, Congress has taken a keen interest in the Shipping Act. On May 2, 2017, the U.S. Federal Maritime Commission (FMC), unanimously voted to reject the Tripartite Agreement proposed by Kawasaki Kisen Kaisha, Ltd. (K Line); Mitsui O.S.K. Lines Ltd.
FMC Commissioner Doyle Weighs in on THE Alliance Proposed Amendment
Federal Maritime Commissioner William P. Doyle issued a statement addressing THE Alliance’s filing of an amendment to add further detail to protections in the event of an insolvency. I am pleased that The Alliance is seeking Federal Maritime Commission authority to form, contribute funds to, develop rules for, and administer a contingency fund designed to protect against the effects of one of the parties experiencing financial distress or an insolvency event. Parties to THE Alliance Agreement (Agreement No.: 012439) filed an amendment with the Federal Maritime Commission on August 7…
THE Alliance Sets $50 Mln Insolvency Contingency Fund
Remarks from Federal Maritime Commissioner William P. Doyle at the FTR Transportation Conference 2017, Indianapolis, Ind. On September 13, 2017, I voted to expedite the Commission’s decision and support THE Alliance’s amendment authorizing creation of a contingency trust fund designed to protect customers’ cargo and the ocean transportation chain should one of THE Alliance’s carriers experience financial distress or an insolvency event. I support the goal behind this amendment: the smooth and continuous flow of cargo even in the face of another ocean carrier bankruptcy or catastrophic failure.
'K' Line takes Delivery of 14,000-TEU Containership
Kawasaki Kisen Kaisha, Ltd., Tokyo, (“K” Line) has taken delivery a new 14,000-TEU containership, Milano Bridge, built at Hiroshima Shipyard of Imabari Shipbuilding Co., Ltd, Japan and handed over on January 18, 2018. This new ultra-large containership (ULCS) is the same as a series delivered in 2015 and is the first ship of the second generation. Milano Bridge will be deployed on the Asia-Mediterranean service (MED2) under THE-Alliance. “K” Line said it has five ULCSs scheduled for delivery this year, bringing the total to 10 units. No.
Several Car Shippers Face Fines for Rigging Bids
EU antitrust regulators are set to fine Nippon Yusen KK (NYK) and several other Japanese shippers as well as Norwegian Wallenius Wilhelmsen Logistics ASA (WWL) in the coming weeks for rigging bids for shipping cars, according to people with knowledge of the matter. The EU sanctions follow a near six-year investigation which started with dawn raids by the European Commission in September 2012 in coordination with Japanese and U.S. antitrust authorities. Competition regulators around…
Container Shipping: ONE Begins
Japan's Ocean Network Express (ONE) announced the commencement of container shipping businesses on April 1, 2018. ONE is the result of an integration of the container operations of three Japanese shipping carriers, namely, Kawasaki Kisen Kaisha, Ltd ("K" Line), Mitsui O.S.K. Lines, Ltd (MOL) and Nippon Yusen Kabushiki Kaisha (NYK). In April 2017, MOL, NYK and 'K' Line, started services as "THE Alliance" with other major domestic and foreign shipping companies. Ocean Network Express will continue to provide services as an alliance member.
ONE Stakeholders Announce Completion of Investment Payment
Japan's Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines, Ltd., and Nippon Yusen Kabushiki Kaisha have 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. K Line and MOL each hold 31 pct stake in the JV, while NYK participates with 38 pct share.
'K' Line: Change of Executive Officers
Kawasaki Kisen Kaisha Ltd (“K” Line) announced changes to executive officers. “K” Line has promoted Senior Managing Executive Officer Kazutaka Imaizumi to the position of chairman of “K” Line India Private Ltd., Executive Officer Aka Hiraoka to counselor of “K” Line Logistics Ltd., and Executive Officer Tomoyuki Okawa to chief executive officer of “K” Line Offshore AS. Tomoyuki Okawa will provide assistance to Energy Transportation Business, in charge of Tankers, General Manager of Energy & Off-Shore Business Planning Group. Tomoyuki Okawa has joined “K” Line in 1983.
K-Line Executive Pleads Guilty to Price Fixing
An executive of Japan-based Kawasaki Kisen Kaisha Ltd. (K-Line) was sentenced to 18 months in a U.S. prison after pleading guilty to his involvement in a conspiracy to fix prices, allocate customers and rig bids of international ocean shipping services for roll-on, roll-off cargo to and from the United States and elsewhere, the Department of Justice announced. According to the one-count felony charge filed in U.S. District Court of the District of Maryland in Baltimore on Jan.
ABS Selects Board of Directors, Advisory Council & Members
At the 152nd Annual Meeting of the Members of ABS, industry leaders were elected to serve on a number of bodies that contribute to the operation of the classification society as it fulfills its mission of promoting the security of life and property and preserving the natural environment. •Christopher J. •Michael L. •Dr. Peter H. •Richard D. •John A. •William E. •Philip J. •Craig H. •Dean E. •Elizabeth D. •Douglas C. •Vikki M. •Derek S. •Joseph O. •William T. •Captain Spyros N. Karnessis, Chairman, European Navigation Inc. •Stephen Y. K. Pan, Chairman, World-Wide Shipping Agency Ltd. •Spyros M.
"K" Line Reviews Medium-term Management Plan
Kawasaki Kisen Kaisha, Ltd. (“K” Line) reviewed its medium-term management plan, which was formulated in March 2015 as the business strategy toward our 100th anniversary in 2019, in response to the structural changes afoot in the business environment. “K” Line formulated “K Value for our Next Century – Action for Future – ” newly adding the core theme: “Ensuring competitiveness through business structural reform” to one of previous three core themes: “Ensuring stability by improving…
RFAI Key to Monitoring West Coast Agreement - FMC
Following is the statement of FMC Commissioner William P. We do not take our hands off the wheel just because an agreement is allowed to go into effect without the Commission taking any further action to delay the implementation of the agreement. FMC staff has requested certain information from the parties to the Pacific Ports Operational Improvements Agreement (PPOIA). To date, the response by the PPOIA parties has been incomplete. As a Commissioner I am interested in information…
"K" Line Recognized for Vessel Speed Reduction Program
Kawasaki Kisen Kaisha, Ltd. (“K” Line) has received recognition from the port authorities of both Long Beach and Los Angeles, for recording high level of compliance throughout 2015 with voluntary speed reduction by “K” Line’s containerships, car carriers and dry bulk carriers in the two ports’ respective programs in order to prevent air pollution and warming by slowing ships within the designated water. Ships participating in the program are asked to comply with speed limit of…
Cosco's Ambitious $1.5Bln Megaship Plan
Chinese shipping behemoth Cosco Holdings has confirmed it will order 11 container megaships for $1.5 billion, despite an estimated 30 percent overcapacity in container shipping having sent freight rates to levels that at times don't even cover the fuel cost of moving containers across oceans, The Wall Street Journal reported. It has placed an order for 11 19,000 TEU containerships at four domestic shipyards. This is the largest single order for container ships Chinese yards have ever received. When fully-loaded, such ships cut that cost by about 25 percent compared to smaller vessels.
NYK, MOL and K Line to Merge Container Shipping Businesses
Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines Ltd. and Nippon Yusen Kabushiki Kaisha will establish a new joint-venture company to integrate the container shipping businesses. The shippers have agreed, after the resolution by the board of directors of each company, and subject to regulatory approval from the authorities, to establish a new joint-venture company to integrate the container shipping businesses, including worldwide terminal operating businesses excluding Japan, of all three companies and to sign a business integration contract and a shareholders agreement.
“K” Line Launches China Vietnam Indonesia Service
KAWASAKI KISEN KAISHA, LTD. (“K” Line) has announced its new containership service of “China Saigon Indonesia Services (CSI)”. The service will have direct port coverage from China to Ho Chi Minh, Vietnam and Indonesia, ensuring faster transit times to Ho Chi Minh, Jakarta and Semarang compared with current transship product and expanded service network. On top of these, “K” Line will deploy a vessel by itself on this service.
“K” Line Group to Implement “K” Line Wind program
“K” Line Group (Kawasaki Kisen Kaisha) taking steps to improve our corporate culture and climate through the “K”-no-Kaze” (“K” Line Wind) program. Additionally, it is prepared a long-term policy for environmental conservation—called “Environmental Vision 2050”—to fulfill its responsibility to minimize our impact on the global environment. Early next month, DRIVE GREEN PROJECT, construction of a car carrier equipped with state-of-the-art technologies and designed to achieve the highest level of energy savings and environment-friendliness, is scheduled to be completed.
K Line Sues APL Logistics
Kawasaki Kisen Kaisha, Ltd. (“K’’ Line) has today filed a civil lawsuit in Tokyo District Court against APL Logistics Ltd. (“APLL”), a Singapore entity which is engaged in international transportation business, seeking compensation for damages arising from APLL employees’ acts of disseminating false information relating to “K” Line. Some of APLL employees have disseminated false information to “K” Line’s clients, which had spread globally, by sending e-mails in which they strongly recommend terminating bookings on “K” Line and shifting to other carriers, because of a potential bankruptcy.