Japan's ONE projects billion dollar savings after half-year deficit

There were difficulties during the launch phase, but recently merged Japanese liner company Ocean Network Express still believes in cost savings totaling a little more than USD 1 billion.

Photo: Ocean Network Express

Despite challenging launch difficulties, newly merged Japanese liner shipping company Ocean Network Express, ONE, maintains its ambitions to reach more than USD 1 billion in cost savings.

The ONE joint venture is built on a merger of the container activities of the three major Japanese shipping companies Mitsui O.S.K. Lines, Kawasaki Kisen Kaisha and Nippon Yusen Kaisha, and the venture was launched on April 1 this year at the beginning of the Japanese fiscal year.

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