ONE COMMITMENT

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Japan’s ONE Carrier Network Flags $600 Million Loss in First Year

(The Loadstar) – Japanese carrier Ocean Network Express (ONE) is set to see losses spiral to $600m in its first year, as it struggles to “restore the trust of customers” after the chaotic April launch. ONE has alerted shareholders of K Line, MOL and NYK to a $310m loss for the half-year period to 30 September. Moreover, the merged carrier network has drastically revised its forecast of a full-year profit of $110m to a loss of $600m, which would see it sink towards the bottom of the carrier profitability league table. Prior to the merger of the three carriers, chief executive Jeremy Nixon and his team were bullish about the prospects for ONE, predicting more than $1bn a year in synergy cost savings. They said this would bring a profit in the first year of $110m, followed by $313m and $648m in consecutive years.

MOL COMMITMENT to be dry docked shortly after delivery

Following the MOL COMFORT disaster, MOL is to drydock sisterships for extra hull strengthening. Read full story: http://linervision.wordpress.com/2013/06/27/mol-comforts-rear-half-sinks-mol-to-drydock-sister-ships-for-extra-hull-strengthening/

Mitsubishi Nagasaki delivers MOL COMMITMENT (8,540 teu)

Mitsubishi’s Nagasaki shipyard has delivered the 8,540 teu container vessel MOL COMMITMENT to Mitsui O.S.K. Lines (MOL). The ship is the 11th unit in a series of 12 sister vessels ordered by MOL and by various Japanese non-operating owners who charter the ships to liner operators under long-term contracts. The final ship of the series will also come on stream for MOL and is scheduled for delivery later this year. Full story: http://linervision.wordpress.com/2013/06/17/mitsubishi-nagasaki-delivers-mol-commitment-8540-teu/