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, March 23.

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 decarbonization 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 container line, 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.

Source: Splash247

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