SILKRAILS.WORDPRESS.COM (GCTL8.com – FOCUSASIA MEDIA Ltd)
TOYKO, Jul 5 (FAM) – Japan’s major container lines have downplayed a delay in establishing their liner shipping joint venture on 1 July as originally scheduled, which is still on track to become the world’s sixth-largest carrier grouping open its planned full launch next year.
In a joint statement, “K” Line, MOL and NYK said progress was being made towards completing the establishment of the new integrated container shipping business, including receiving all the necessary approvals.
Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines, Ltd., and Nippon Yusen Kabushiki Kaisha said: “As of today, the new company to be established has received all necessary approvals for compliance with local competition laws in regions and countries where compliance is required for the new company’s establishment, and progress is being made towards completing the establishment of the new integrated container shipping business. Further details will be announced upon completion of all establishment procedures.”