Regulators have now fined ocean carriers Wallenius Wilhelmsen Ocean (WWO), NYK RORO, and “K” Line a total of $63 million for price fixing on vehicle shipping services on routes to Australia.
"K" Line
"K" Line
Established in 2017, Ocean Network Express (ONE) is a joint venture of the container line operations of three Japanese carriers: Kawasaki Kisen Kaisha, Ltd., known as 'K' Line; Mitsui O.S.K. Lines, Ltd., known as MOL; and NYK Line, or Nippon Yusen Kabushiki Kaisha (NYK).
ONE’s combined fleet size initially totaled 1,550,000 TEU, ranking it the sixth-largest fleet in the world. ONE’s operations involve a fleet of over 250 vessels, including more than thirty super-large ships, such as 20,000 TEU container-ships. Covering over 100 countries around the world, ONE’s liner network links Asia with both coasts of North America; Europe with Asia; Europe with North America; West and Southeast Asia with China; and East Asia with Latin America. Although ONE’s holding company is located in Japan, its operational management is in headquartered in Singapore.
The ONE fleet has become one of the largest carriers of both containerized imports from Asia to the United States, and containerized exports from the US to Asia.
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Press Releases
31 Oct 2019
Despite reporting a profitable second quarter, the Japanese container carrier has reduced its full-year earnings forecast by nearly one-third, citing concerns over a worsening global economic environment and an expected increase in bunker costs.
02 Aug 2019
An ongoing probe by Australian regulators that involves several carrier lines over a period of years has resulted in a hefty fine for K Line over price fixing allegations involving the shipment of vehicles.
31 Jul 2019
It has been a good start to the year for ONE, with no distracting merger issues to affect service levels and revenue.
26 Apr 2019
The merged container operations of Japan's three largest ocean carriers got off to a dismal start as it launched operations in April 2018, which helped drag down revenue.
29 Mar 2019
Container lines with the financial muscle — or state backing — are forging ahead with strategies aimed at controlling a greater portion of the container supply chain.
06 Mar 2019
In an era of minute-by-minute supply chain demand, ocean shippers say they need carriers to improve on-time performance, but carriers say it's not so simple.
26 Feb 2019
Two of the three top container lines say that the Department of Justice has closed its investigation into the container shipping industry and released them from their related obligations.
16 Oct 2018
The ocean carrier — which launched in April and comprises “K” Line, MOL, and NYK Line — said in its half-year earnings report that it collectively expects to lose $310 million in the first half of the year, on revenue of $5.03 billion.
10 Sep 2018
The Top 5’s losses were driven exclusively by shippers shunning the Ocean Network Express, and there was another shipper trend that provides an insight regarding how shippers responded to alliances.
31 Oct 2017
The improved performance came amid preparations by the three companies to merge and operate as a single company.
17 Oct 2017
The landside ability of the supply chain to handle volume generated by mega-ships must improve before carriers can achieve the lower unit costs their deployment promises.
14 Sep 2017
US maritime regulators on Thursday voted to allow ocean carrier members of THE Alliance to form an emergency fund.
10 Jul 2017
NYK's head of container shipping Jeremy Nixon will lead the new Japanese carrier ONE.
07 Jul 2017
Japan's three major carriers have officially formed the One Network Express in Tokyo.
03 Jul 2017
Japan's three major carriers say the new joint venture liner shipping company is ready to be established.
22 Jun 2017
The decision comes just days before the new joint venture Ocean Network Express was expected to be formed.
31 May 2017
The name of the joint venture container line that will be formed from the merger of Japan's three main carriers has been announced.
16 May 2017
Share prices of Japan’s top three shipping firms are languishing.
10 May 2017
The Japanese lines may as well fast track their merger following the voting down of their proposed agreement by the FMC on jurisdictional grounds, as the new line is unlikely to be blocked.
02 May 2017
The US Federal Maritime Commissioners voted 4-0 to reject ‘K’-Line, MOL, and NYK Line’s plan to share information with each other ahead of the merging of their container operations in July
28 Apr 2017
The next 12 months will be good for Japan's top three carriers that are predicting a profitable 2017/18 financial year.
16 Mar 2017
"After five years we will probably see new alliances, and smaller capacity carriers may lose out.”
13 Mar 2017
The so-called “tariff effect” will take an estimated one to two years after the set-up of the company to start delivering substantial savings.
09 Mar 2017
THE Alliance on Thursday released details on its 32 joint services.
08 Mar 2017
The new alliances begin operations on April 1, but an analysis of the networks reveals a surprising cut in the number of direct port-to-port connections.
28 Feb 2017
Jeremy Nixon presented an update to the TPM 2017 conference on the merger of the container divisions of 'K' Line, MOL, and NYK Line.
31 Jan 2017
The anticipation of record losses underscores the necessity of Japan's leading container lines’ plan to merge.
14 Dec 2016
The fight between the three major shipping alliances on US trades officially starts in April.
12 Dec 2016
The tax reforms provide another release valve for growing financial pressure.
06 Dec 2016
The original language would have expanded the antitrust immunity of container shipping alliances.
29 Nov 2016
US Federal Maritime Commission member William Doyle said the FMC should be “very cautious” about allowing container lines to use their alliances’ antitrust immunity to deal collectively with US service providers.
08 Nov 2016
THE Alliance on Tuesday announced details of its network of routes and port calls.
08 Nov 2016
Eager to avoid the fate of neighboring South Korea’s Hanjin Shipping, Japan’s Big Three shipping companies are lobbying the government for favorable tax and budgetary measures.
01 Nov 2016
For decades, the Japanese lines have competed fiercely for their share of the container market, but that has ended with the agreement to merge liner operations.
31 Oct 2016
Synergies can be obtained through a single operating unit.
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