Nippon Yusen KK, Mitsui OSK Lines Ltd and Kawasaki Kisen Kaisha Ltd, Japan’s top three shippers said they would form a joint venture that they expect to create annual cost benefits of about 110 billion yen ($1.05 billion). 

The aim of becoming one this time is so none of us become zero," said Tadaaki Naito, the president of Nippon Yusen, at a joint news conference in Tokyo.  This new partnership has been made to compete with the trend in Europe. Many companies in the Europe have come along to make a new separate entity for more profit.

With this acquisition the merger will be world’s sixth largest merger in the shipping business.

Many new acquisitions have been planned, for example the world's No.3 player, CMA CGM of France, is in the process of acquiring Singapore's Neptune Orient Lines (NOL). 

German container shipping line Hapag-Lloyd AG agreed earlier this year to merge with United Arab Shipping Company (UASC). 

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