You are here

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

BT_20161101_SYSHIP1_2574730.jpg
From left: Kawasaki's Mr Murakami; Junichiro Ikeda, president and chief executive officer of Mitsui OSK; and Tadaaki Naito, president of Nippon Yusen at a news conference in Tokyo on Monday.

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...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes