Ocean Express Network Incurs a USD600 mln Loss in First Year
Japanese carrier Ocean Network Express (ONE) is set to see losses spiral to $600m in its first year, says its revised consolidated business forecast for FY2018 (April 1, 2018 to March 31, 2019).The integrated container shipping operating company, which was established by Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines Ltd., and Nippon Yusen Kabushiki Kaisha, said in a press statement that the loss is attributed to its struggle with a new information technology, staff shortages and a rapidly rising fuel costs.Singapore-headquartered ONE, after formed in April, pumped $3 billion to merge their container operations. The company had originally forecast a $110 million annual profit."For the first half of the fiscal year, synergistic effects of the business integration have emerged steadily.
Jeremy Nixon is CEO of ONE Ocean Network
The management of the new company, Ocean Network Express Holdings (ONE) - the joint venture between three Japanese shipowning societies Kawasaki Kisen Kaisha ("K" Linens), Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kaisha (NYK) was unveiled. The existing NYK Line chief executive Jeremy Nixon named as the chief executive of ONE. Nixon has been chief executive of NYK’s liner division since 2012, and moved to Singapore two years before that to head its South Asia operation. The holding company with ultimate governance of ONE will remain in Tokyo, but its operational global headquarters will be based in Singapore. ONE will have five regional operating Generali quarters…
Vessel Sales: February 2015
Vessel sales for February 2015 - (as of March 1) as prepared by Shipping Intelligence, Inc., New York.
For Oil or Tuna, One Design Can Do It All
Commercial diver John Template likes to have boats built and he doesn’t much mind whether he operates them or sells them. This May he will take delivery of the second of a two-boat order from A&B Industries. The sister ships were built as 120- x 32-ft. with a molded depth of 12 ft. They are USCG inspected class “L” with ABS Loadline only under 100 gt. Designed for versatility in serving a variety of functions in support of the oil industry, the boats have 76- x 24-ft. clear aft decks capable of handling 126 tons of deck cargo. Tankage, including 50,000 gallons of fuel and 12,940 gallons of potable water, equips the boats for conventional off shore supply vessel support to drilling and production rigs Water ballast tanks have a capacity of 18…
