NYK attributed Ocean Network Express’s initial loss to administrative problems resulting from “inefficient employee familiarization with the systems and insufficient preparation for the administrative processes.”
NYK Line
NYK Line, or Nippon Yusen Kaisha, is headquartered in Tokyo, Japan. The company offers services from global logistics to bulk shipping. NYK Line was founded in 1870 as Tsukumo Shokai Shipping and is the world’s 12th-largest shipping line.
NYK Line currently operates more than 800 vessels including container ships, woodchip carriers, car carriers, LNG carriers and reefer carriers. Its container ship fleet comprises more than 150 vessels, both owned and chartered, with a total capacity of more than 450,000 TEUs (20-foot-equivalent units). The company has 240 offices in 27 countries.
NYK Line posted revenues of US$20.17 billion in 2013 — down 8.3 percent on a year-on-year basis. The company recorded a net profit of $200.9 million, up from the previous year’s net loss of $404.4 million.
NYK Line was the 12th-ranked container carrier in U.S containerized import trade in 2013, with volume of 716,175 TEUs, up 3.1 percent year-over-year, giving it market share of 4.0 percent. It was No. 10 in U.S. containerized export trade in 2013, with volume of 453,648 TEUs, up 4.9 percent year-over-year and market share of 3.6 percent. For more carrier rankings see the JOC’s Top 40 Container Carriers special topic.
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Supply Chain & Logistics Intelligence in the Age of AI, IoT and Blockchain
15 Jun 2018
Having filled staff shortages at its US call centers and improved data integrity, the new Japanese liner company Ocean Network Express is providing beneficial cargo owners with the level of service they rightfully demand, but CEO Jeremy Nixon said carriers will struggle to implement meaningful peak-season surcharges this fall.
27 Apr 2018
All three carriers in Ocean Network Express highlighted the supply-demand balance as having an influence on container industry financials, with freight rates stronger than during the previous year but lower than expected.
31 Jan 2018
The improving container shipping market is reflected in the nine-month financial results of Japan's big three carriers.
18 Jan 2018
The last piece of the regulatory puzzle has fallen into place for Ocean Network Express, clearing the way for its global April 1 launch.
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.
16 Oct 2017
Ocean Network Express CEO and 2017 TPM Asia Panelist Jeremy Nixon provides JOC.com with an exclusive update on the progress of merging Japan's Big Three container lines.
14 Sep 2017
US maritime regulators on Thursday voted to allow ocean carrier members of THE Alliance to form an emergency fund.
31 Jul 2017
The positive earnings statements come less than a month after the three established Ocean Network Express.
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.
05 Jul 2017
Just days after APL announced the launch of a direct Asia-Hawaii service, NYK has doubled its frequency to the US island state.
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.
15 Mar 2017
Miyamoto said she expects the recent improvement in rate sentiment will transfer to some extent to long-term shipping contracts.
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.
17 Nov 2016
Maher Terminals has been acquired by Macquarie Infrastructure Partners III and a subsidiary of Japanese shipping company NYK Line.
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.
04 Nov 2016
The credit ratings agency Moody’s has downgraded the rating for Nippon Yusen Kabushiki Kaisha, parent of NYK Line.
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.
31 Oct 2016
A merged NYK Line, “K” Line, and MOL would be the dominant mover of containerized goods from Asia to the United States if operations were to begin today.
31 Oct 2016
Japan’s Big Three container lines downgraded their full-year earnings forecasts and said they expected record losses as their fiscal first-half results illustrated the financial difficulties that motivated their Monday announcement they would merge.
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