Mitsui OSK Lines, NYK Line and K Line are set to receive a total of $500m in dividends from their merged liner outfit, Ocean Network Express (ONE).

NYK Line, as ONE's largest shareholder with a 38% stake, will receive roughly $190m, while MOL and K Line will each receive around $155m, which reflects their 31% stakes.

This will be the first time the three partners have received a dividend from Singapore-headquartered ONE since its establishment in 2017.