Ocean Network Express (ONE) plans to invest $25 billion through fiscal 2030 to expand its fleet and operations amid growing geopolitical risks and changing global trade patterns, according to Nikkei.
The Singapore-based container shipping company, a joint venture between Japanese maritime firms Nippon Yusen Kaisha (NYK), Mitsui O.S.K. Lines (MOL), and Kawasaki Kisen Kaisha (K Line), will build 42 new vessels by fiscal 2028. This expansion will increase its capacity by approximately 570,000 twenty-foot equivalent units (TEU), boosting its total fleet capacity by 30%.
ONE currently operates 243 container ships with a total capacity of 1.9 million TEU, positioning it as the world’s sixth-largest container shipper. The investment strategy also includes port development and potential acquisitions.
The expansion comes as global shipping companies race to increase their fleets. Major competitors are making similar moves, with Switzerland’s MSC adding ships, Denmark’s A.P. Moller-Maersk launching 20 alternative-fuel vessels, and Germany’s Hapag-Lloyd investing $4 billion in 24 new ships.
Ongoing conflicts in the Middle East have forced vessels to reroute around Africa’s Cape of Good Hope rather than using the Red Sea, extending journey times and increasing demand for container ships. Meanwhile, maritime transport from Asia to the U.S. reached record levels in 2024 as manufacturers stockpiled inventory in anticipation of higher tariffs under President Trump.
Industry experts note that U.S. tariff policies could have mixed effects. While companies shifting production to Southeast Asia, India, and South America could create new shipping demand, potential decreases in U.S. domestic consumption might slow freight movement.
