NYK, KKK and Mitsui OSK to merge their box business
New unit will be 6th largest carrier in the world, with 7% of global trade; move seen as merger of survival
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Tokyo
JAPAN'S three biggest shipping companies have agreed to spin off their container operations and merge them to create the world's sixth-largest box carrier as the global container-shipping industry continues to shrink.
Nippon Yusen KK (NYK), Mitsui OSK Lines and Kawasaki Kisen Kaisha (KKK) agreed to merge the box business to create a company that will control 7 per cent of the world container-shipping trade, according to a joint statement in Tokyo on Monday. The combined entity will be formed by July 1 and will have about two trillion yen (S$26.5 billion) in sales and will be Asia's biggest box carrier after China Cosco Shipping Corp.
Share with us your feedback on BT's products and services
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
Loyang Valley sold for S$880 million to SingHaiyi-led consortium
