A PYMNTS Company

South Africa: Regulator approves union of three shipping companies

 |  January 17, 2018

A joint venture involving three international shipping companies, Nippon Yusen Kabushiki Kaisha (NYK), Mitsui OSK Lines (MOL), and Kawasaki Kisen Kaisha (K Line), has been given conditional approval by the South African Competition Tribunal.

This comes after the nation’s Competition Commission had originally prohibited a merger on the basis that the transaction would have likely strengthened co-ordination in the market for the transportation of cars, containers and bulk shipping services.

The three companies intend to merge their container-liner shipping businesses. They will share ownership in a joint venture known as Ocean Network Express and its South African subsidiary, SA JV.

Full Content: Enginnering News

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.