The International Housewares Shippers Association has been informed by MOL, NYK and K-line of their intentions to consolidate their container shipping divisions into a single operating entity. In the meantime, it is business as usual, and all three companies will continue to operate and serve their customers as they do today on an ongoing basis.
Some key points of the agreement are as follows:
This new arrangement will not simply be a carrier alliance. A new company, operating under a new name (yet to be finalized), will be established with MOL, NYK and K-Line as shareholders.
Subject to regulatory approval, the new company is expected to be fully integrated and operational by April of 2018. NYK says, “During the 18 months between now and then, MOL, NYK and K-Line will be focused on the smooth integration of our services in order to ensure that the new company is capable of offering a premier service upon commencement of operations.”
With an initial fleet size of 1.4 million TEUs, the new entity will provide customers with a combination of financial strength, global operational efficiency and customer service excellence.
The International Housewares Shippers Association (IHSA) is a not-for-profit association formed to benefit companies belonging to the International Housewares Association (IHA). Through the combined leverage of members, IHSA negotiates freight contracts and partners with other logistics providers to lower supply chain costs.
IHSA’s main function is to negotiate the lowest possible transportation rates and provide the highest quality service for all participating members. Additionally, IHSA members receive valuable market intelligence and advice through regular newsletters and briefings.
IHA member companies looking to reduce their ocean freight costs or have questions about an ocean freight issue are encouraged to contact IHSA to learn about the program. Contact IHSA at +1-513-489-4743 and learn more on our website.