Ocean Network Express (ONE) and South Korean forwarder LX Pantos have formed a joint venture called Boxlinks to provide comprehensive end-to-end intermodal transportation services within the United States, reports Freightwaves.
Joint Venture
A joint venture between ONE and LX Pantos will manage ONE’s domestic transport needs within the United States through a Domestic Reposition Program (DRP). This collaboration aims to leverage empty containers for intermodal operations, generating new revenue streams for both companies while enhancing operational efficiency. The U.S. market presents a significant opportunity for this venture, with a substantial volume of empty containers returning from major ports like Los Angeles, Savannah, and New York due to limited export cargo.
To facilitate this initiative, Boxlinks has secured direct agreements with major U.S. railroads, including Union Pacific, Norfolk Southern, and BNSF, establishing a competitive rail network connecting key logistics hubs. ONE, headquartered in Singapore, is a leading ocean carrier alliance comprising K-Line, MOL, and NYK, all major Japanese shipping companies.
LX Pantos, a global logistics provider, generated $47 billion in revenue in 2023. The companies have been collaborating closely since 2023 to develop a strategic approach to the U.S. market. The U.S. intermodal market is substantial, valued at $54 billion annually, with a projected compound annual growth rate of 10.9% through 2030, according to the Intermodal Association of North America.
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Source: Freightwaves
