name   천일그룹  tel   
date   2018-02-14 E-mail

  
title   Ocean Network Express Completes Merger Approvals


South Africa’s competition watchdog becomes final signatory allowing
Kawasaki Kisen Kaisha (K Line), Mitsui O.S.K. Lines (MOL ), Nippon
Yusen Kabushiki Kaisha (NYK ) merger, so that Joint venture (JV) can
start operations on April 1.


"K Line, MOL and NYK have announced that their new joint venture
company, Ocean Network Express Pte. Ltd., established in July 2017,
has received all necessary merger approvals from local competition
authorities in regions and countries where such approvals are
required for the launch of service by the newly established joint
venture company," said a press statement.

The green light makes ONE the sixth-largest ocean carrier.

As announced on July 3, 2017, the JV company had completed the
approval process in all regions and countries except South Africa as
of the end of June 2017.

South Africa rejected the merger last summer, citing evidence of past
collusion between container shipping firms and the prospect of the
merger leading to further anti-competitive behaviour.

Following continued negotiations with the competition authority in
that country, the Japanese carriercompany yesterday (January 18)
obtained approval with conditions requiring measures regarding
competition law compliance.

The service commencement schedule for the new company remains
unchanged, with operations slated to begin on April 1, 2018. It will
launch its first 33 services in April, but start accepting bookings
as early as February while it ties loose ends.