Today the three Japanese container carriers Kawasaki Kisen Kaisha, Ltd. (“K”Line), Mitsui O.S.K. Lines (MOL), and Nippon Yusen Kaisha (NYK) have agreed to merge their containership and terminal businesses (excluding terminals located in Japan) into a new company with the goal to be operational by April 1, 2018.
This merger will, based on current market share, create the 6th largest container carrier with a market share of about 7% worldwide, controlling approx. 1.4 Million TEUs.
NYK will own 38% of the newly created company, K-Line and MOL will each own 31% as per the official announcement of today.
Further details will follow in the next weeks.