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%.