Created from a triple merger, Ocean Network Express (ONE) had just nine months to digitise, streamline and automate treasury processes. Here, Toshiaki Ichida, General Manager, Treasury, ONE, is joined by Ziad Kabbara, Global Sector Head, Transportation, Aviation and Logistics, and Clarice Kwa, Vice President, Transportation, Aviation and Logistics, Global Liquidity and Cash Management, HSBC, to discuss highlights of ONE’s treasury transformation journey – ranging from robotic process automation to data visualisation.
Headquartered in Singapore, ONE is the world’s sixth largest container shipping company. It was formed in 2017 as the result of a merger between the three biggest Japanese shipping lines: K-Line, Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kaisha (NYK). From its inception, ONE’s management team has looked to accelerate growth by leveraging technology to: enhance existing business models; develop innovative services for current markets; create value in new markets; and challenge the industry status quo with fresh digital services (see box 1).
| Box 1: Digital is in ONE’s DNA |
In April 2019, ONE established the Digital Container Shipping Association (DCSA) with A.P. Moller- Maersk, Hapag-Lloyd, and MSC. The goal of the new association is to pave the way for interoperability in the container shipping industry through digitisation and standardisation. In July 2019, ONE joined TradeLens, a society to digitise the global supply chain by improving the precision of tracking shipments in real time.