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Ocean Network Express unveils $20bn investment scheme

Jeremy Nixon, CEO of Japan’s Ocean Network Express (ONE), gave reporters an idea of what it will cost to stay mixing with the big boys of the liner profession, outlining major investment plans over the next eight years at a press briefing yesterday.

By 2030, the carrier will invest $20bn, of which more than half will go on new containerships. Other investments include terminal acquisitions, technology, and other segments such as containers.

To meet the growing demand and decarbonisation target of 2050, ONE plans to invest in around 150,000 teu of newbuilding capacity each year. ONE has already chartered 38 vessels, which will be deployed from 2023 to 2025. The move will see ships that are due to come off charter and provided by the parent companies replaced.

“Last year, 75% of our fleet was chartered from our shareholders and, by 2030, this will be reduced to 20%,” Nixon said.

ONE, with 1.58m slots to its name today, is currently the world’s sixth largest containerline, according to data from Alphaliner. It was created in 2017 by Japan’s big three shipping lines, K Line, MOL and NYK, as container consolidation forced many shipping companies to seek out mergers to remain competitive.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.

Comments

  1. post on Japan’s Ocean Network Express $20 bn and plans for expansion of liner business upto 2030 is encouraging news post Covid-19. please do post such information so that people outside Japan will know what’s happening in the global shipping industry.

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