News / Three Japanese carriers looking forward to coming together as ONE

K Line, MOL and NYK are banking their future group profitability on the success of the Ocean Network Express (ONE) – the merger of the Japanese transport groups’ respective container businesses scheduled for April.

According to reports, the trio say they expect to save ¥50bn ($440m) in costs in the first fiscal year ending 31 March 2019m and thereafter ¥110bn a year.

The synergies will come from personnel consolidation, combining agencies and subsidiaries and a lowest-common-denominator-reduction strategy on port costs and service provider fees.

In their traditional New ...