Japanese shipping groups K Line, MOL and NYK, now operating as the Ocean Network Express (ONE) joint-venture, have unveiled their business plan, identifying more than $1bn a year in expected synergy cost savings.
The three carriers have signed off their final annual accounts covering the period before the transfer of their container businesses on 1 April.
Henceforth, the Japanese trio will record container earnings through their equity in ONE, in which NYK holds a 38% stake …

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Source: The Loadstar