News / NYK, MOL and K Line to merge container shipping businesses to form world's sixth largest carrier

Japan’s big three shipping groups – K Line, MOL and NYK – have agreed to spin-off their container shipping businesses into a new joint-venture company with a total capacity of 1.4m teu, which would rank as the sixth largest in the world and have a global market share of approximately 7%.

A joint statement released today said the deal was subject to shareholders’ agreement and regulatory approval with a planned establishment of the new company scheduled for 1 July 2017, and ...