02/11/2016
Hi All,
I found this interesting article in Ports and Ships website. This is a major move by the Japanese and will effect shipping internationally, whether for the good or for the bad is yet to be seen. Hopefully we can obtain more cost effective shipping rates for our current and future clients.
Please feel free to visit our website www.inscarglobal.co.za
"Japan's three major container lines agree to merge
Japan's three leading container lines announced yesterday that they were merging their worldwide container operations. In a statement the three lines said that Kawasaki Kisen Kaisha ('K' Line), Ltd, Mitsui O.S.K. Lines Ltd (MOL), and Nippon Yusen Kabushiki Kaisha (NYK) have agreed, after a resolution by the board of directors of each company, and subject to regulatory approval from the authorities, to establish a new joint-venture company to integrate the container shipping businesses (including worldwide terminal operating businesses excluding Japan) of all three companies and to sign a business integration contract and a shareholders agreement. The announcement confirms rumours to this effect and the only surprise is the length of time being taken to put the new merger into operation. "