Japanese shipping firms Nippon Yusen, Mitsui O.S.K. Lines, and Kawasaki Kisen are integrating their container operations. They say the move is in response to slowing demand and lower freight charges worldwide.
The firms plan to invest 300 billion yen, or about three billion dollars, in the joint venture next July. They aim to start regular container shipping in April 2018. They project about 20 billion dollars in sales for the venture, making it the industry's sixth largest player. Presidents of the three firms say the combined fleet will be an advantage.
The global shipping industry is in crisis and in need of restructuring. Overcapacity and the slowing global economy have sent shipping fares tumbling.
◆shipping firm 船会社
◆container （貨物用）コンテナ
◆operation 事業
◆freight charge 貨物運賃
◆project 見積もる、予測する
◆player 大企業など影響力の大きな組織
◆overcapacity 過剰生産能力
◆tumble 急落する
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