Ocean Network Express (ONE), a leading Singapore-based container shipping company, and its technology partner, MTI Ltd., have officially announced the establishment of a joint venture, QUAVEO Company Limited (QUAVEO), in Ho Chi Minh City, Vietnam. This strategic move underscores ONE’s commitment to digital transformation (DX) in the maritime logistics sector, moving beyond small-scale pilot projects to large-scale implementation.
The new entity, incorporated in December 2025, has an initial registered capital of USD 1.6 million (approximately JPY 250 million). MTI holds a 51% stake, while ONE owns the remaining 49%. Mr. Ichiro Igari, currently a Senior Executive Officer at MTI, has been appointed as QUAVEO’s CEO.
The decision to base this tech-focused joint venture in Vietnam has drawn significant attention, given ONE’s status as the world’s sixth-largest container shipping company.
ONE operates a fleet of over 260 vessels with a total capacity exceeding 2 million TEU, serving 120 countries. With its vast assets and operations, ONE faces critical challenges in data management and cost optimization, particularly amid industry pressures such as labor shortages and stringent carbon reduction regulations.
While maritime data has surged in recent years, effectively leveraging this asset to drive revenue remains a significant challenge. QUAVEO aims to address this by integrating AI and Large Language Models (LLMs) into real-world operations, moving beyond Proof of Concept (PoC) stages.
Specifically, QUAVEO will develop optimization algorithms for vessel allocation and equipment operations, enhancing logistics efficiency. Additionally, AI Agents will automate back-office tasks and repetitive processes, while providing customer support.
Commenting on the choice of Vietnam and the joint venture’s vision, Mr. Ichiro Igari, CEO of MTI, stated:
“MTI has strengthened its AI and data science development team at its Vietnamese subsidiary, MTI Technology, primarily for internal services. During this process, we collaborated with ONE, applying AI capabilities to large-scale operations involving people, goods, and currency.”
“Today’s market demands agility in translating AI advancements into business ideas at an unprecedented pace. At QUAVEO, we aim to deliver tangible results in container shipping and healthcare, while driving business transformation through cutting-edge AI for a broader enterprise customer base,”
Mr. Igari added.
Mr. Kenichi Michida, Senior Vice President of ONE, emphasized the urgency of adopting new technologies:
“ONE has built a strong partnership with MTI over the years, successfully developing internal solutions. In container shipping, the demand for AI and LLMs to enhance service quality and operational efficiency is accelerating rapidly. Through QUAVEO, we aim to introduce highly competitive AI/LLM solutions, meeting market needs faster and on a larger scale than ever before, while attracting top AI talent.”
Notably, QUAVEO’s scope extends beyond ONE’s ecosystem. The company plans to offer software development and data utilization services to external businesses, expanding into distribution and manufacturing sectors. Establishing its headquarters in Ho Chi Minh City reflects a strategy to leverage Vietnam’s high-quality tech talent pool, combined with MTI’s AI training expertise, to build a team capable of developing practical, impactful solutions.
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