MOL, NYK and K-Line integrate container operations
Mitsui OSK Lines, NYK and K-Line have reached an agreement to integrate container shipping divisions into a single operating entity, MOL said in its press release. Some important details about this development are as follows:
This new arrangement will not simply be a carrier alliance. A new company, operating under a new name (yet to be finalized), will be established with MOL, NYK and K-Line as shareholders.
Subject to regulatory approval, the new company is expected to be fully integrated and operational by April of 2018. During the 18 months between now and then, MOL, NYK and K-Line will be focused on the smooth integration of our services in order to ensure that the new company is capable of offering a premier service upon commencement of operations.
In the meantime, MOL will continue to serve customers as an independent operator.
With an initial fleet size of 1.4 million TEUs, the new company will provide customers with a combination of financial strength, global operational efficiency and customer service excellence.