The launch of a new Japanese liner joint-venture company came with much fanfare and optimism but financial uncertainty persists for the country’s big three carriers.

At a Tokyo press conference to announce a new Japanese liner joint venture, it emerged that discussions started in earnest in the spring.

The official line is that talks were prompted as Nippon Yusen Kaisha (NYK Line), Mitsui OSK Lines (MOL) and Kawasaki Kisen Kaisha (K Line) sat down together as part of talks in the formation of THE Alliance.

But