October 31, 2016
Three major Japanese container shipping lines said Monday they plan to merge their shipping and overseas terminal operations as the industry struggles with overcapacity and mounting losses.
Mitsui O.S.K. Lines, Nippon Yusen K.K. and Kawasaki Kisen Kaisha, or K Line, said in a statement that they are forming a joint venture to unite their shipping operations. They also are merging terminal management businesses outside Japan.