Corporate Governance

Corporate Governance Structure

ONE was born from the integration of the container shipping businesses of three companies - Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines, Ltd., and Nippon Yusen Kabushiki Kaisha. ONE Holding Company, based in Japan, oversees the governance of operational global headquarters based in Singapore (GHQ). With GHQ, ONE’s global presence through regional offices, branches, subsidiaries and joint-ventures will span across more than 120 countries and GHQ oversees the governance with delegation to regional headquarter(RHQ) based in Hong Kong, Singapore, London, U.S.A and Brazil.

Supply chain Management Policy

Ocean Network Express (ONE) recognizes the importance in establishing mutual trust and harmony with our business partners, who are essential to our business network. To accomplish a high service level, we aim to serve our customers with enhanced efficiency, compliance and integrity. We request the agreement and observance of "ONE’s Supply Chain Management Guideline” to support our efforts of fulfilling ONE's corporate social responsibility (CSR) project.

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Tax principle

As tax laws and regulations are evolving and becoming more complex, the risk of unintentional compliance breaches is significantly increasing.

ONE is committed to ensuring compliance with local requirements and working towards tax transparency and disclosure.

ONE does not condone the behaviour of profit shifting with a tax avoidance intent to minimize its tax obligation and commits to be a responsible taxpayer in all relevant countries. As a starting point, our tax department will conduct a research study in view of analysing local tax laws and reporting requirements in various countries where ONE may operate. This study will help us prepare for our country-to-country reporting to local tax authorities in accordance with the OECD’s Base Erosion and Profit Shifting project. Global tax policies and an internal control framework will be developed by April 2018, following our commitment to comply with tax laws and regulations in each jurisdiction. ONE will therefore formalize the approach it will take to carry out its tax planning strategy without compromising the integrity of its corporate governance and tax morality. Tax matters will be monitored by our tax department at our global headquarters which also manages country and regional tax departments

Compliance Framework

Reliability is one of ONE’s core values and we are committed to carry out our business in a reliable manner. All directors, managers and employees adhere to ONE’s Business Credo and Code of Conduct which includes our pledge to work in accordance with the law and social ordinances as an absolute obedience. 

The Compliance Committee, held twice a year, establishes ONE’s compliance framework and is the driver for solidifying the culture of compliance in ONE Group chaired by Chief Compliance Officer and attended by Directors, senior management, and department heads. It determines actions required to establish, monitor and further enhance ONE’s compliance initiatives. The Committee is designed and run for each department in charge to take responsibility of its compliance including the monitoring and work as one team to tackle challenges as an organization. 

A global hotline system has been set up for early detection of the concurrent issues, and so to receive whistleblower reports and provide immediate consultation on various matters related to compliance.

Bribery and Corruption

As elaborated in ONE’s Basic Anti-Bribery Policy, all directors and employees – whether directly or through third parties – are prohibited from engaging in any form of corrupt practice, including bribery and extortion. 

OCEAN NETWORK EXPRESS
MODERN SLAVERY STATEMENT

October 2025 

This statement is made pursuant to Section 54(1), of the Modern Slavery Act 2015 (UK) and constitutes Ocean Network Express Pte. Ltd. and Ocean Network Express (Europe) Ltd.’s (together as “ONE”) slavery and human trafficking statement for the financial year ending 31 March 2025.
This is our sixth Modern Slavery Statement. In line with the prior statements, ONE further underscores our continued commitment to prevent modern slavery and human trafficking in global business and supply chains, through sustained efforts to document and communicate progress towards our material goals and key performance indicators (“KPIs”).

OUR STRUCTURE
ONE is a global container shipping business operating worldwide with headquarters in Singapore.

OUR POLICIES ON COUNTERING MODERN DAY SLAVERY AND HUMAN TRAFFICKING
‘Modern Day Slavery’ is an umbrella term, which in the context of global supply chains often relates to cases where individuals are subject to human trafficking, forced labour, or servitude; or where coercion, threats or deception are used to intimidate, penalise, or deceive workers, thereby creating situations of involuntary work and exploitation.

I. ONE BUSINESS CREDO AND CODE OF CONDUCT
We are committed to ensuring that there is no Modern Day Slavery, human trafficking, forced labour or servitude in our supply chains nor in any part of our business. Our Business Credo and Code of Conduct reflects our commitment to act ethically, and with integrity in all business relationships. Our Code of Conduct, highlights this in Chapter 4: “Respect for Human Rights and Diversity of Cultures”, Clause 4-4: “Prohibiting Forced Labour or Child Labour”, which states that ‘ONE does not engage in inhumane acts such as forced labour or child labour and ONE does not conduct trade with business enterprises engaged in such acts’. This is further enhanced in our Credo under Clause 4 ‘Compliance with laws and ordinances, respect for human rights’, ensuring the implementation and enforcement of effective systems and controls against Modern Day Slavery within our supply chains.

II. UNITED NATIONS GLOBAL COMPACT
To be part of a global movement towards conducting business in a responsible and sustainable manner, ONE is a member of Global Compact Network Singapore (GCNS), the local chapter of the United Nations Global Compact (UNGC) network. ONE supports the ten UNGC Principles and has pledged to adopt and promote sustainable and responsible business practices. This means operating in ways that, at a minimum, meet fundamental responsibilities in the areas of human rights, labour, environment, and anti-corruption.

ONE is committed to respecting all ten principles, including Principle 4: the elimination of all forms of forced and compulsory labour.

We recognize our role in society and act in a manner that is fair and just by complying with national laws and ordinances and international norms. 

DUE DILIGENCE PROCESSES IN OUR SUPPLY CHAIN
As part of our initiatives to identify and mitigate risk, we have taken steps (detailed below) to integrate sustainability and compliance into our purchasing processes, by measuring and ensuring compliance with social and environmental standards. 

1. ONE SUPPLY CHAIN MANAGEMENT GUIDELINE
ONE recognises that to achieve our sustainability and compliance ambitions, we must bring our suppliers and business partners on board. Critical to our operations are terminal operators, inland and coastal transportation companies, ships and container owners, bunker suppliers, and IT vendors, without whom our core business activities cannot take place.

To ensure our high standards of sustainability and business conduct are upheld along our supply chain, ONE launched our Supply Chain Management Guideline (“the Guideline”). The Guideline calls on all ONE’s suppliers and business partners to respect human rights, business norms and compliance. Accordingly, the Guideline encourages–

• Elimination of forced, bonded or child labour
• Compliance with labour-related laws and regulations of each country
• Equal terms of employment and treatment
• Improvement of working environment concerning safety and health
• Fair wages treatment

Procurement staff are required to share the Guideline with potential vendors, and new suppliers are required to formally acknowledge and comply with the Guideline as a requirement of ONE’s ESG screening process for supplier onboarding: Supply Chain Management Guideline 

2. MONITORING AND REVIEW
ONE has taken steps to ensure that there is no Modern Day Slavery or human trafficking in any part of our business.

The Corporate & Innovation Division in our Global Head Quarters (GHQ) has responsibility for implementing this statement and providing adequate resources to ensure that Modern Day Slavery is not taking place within ONE’s business or its supply chains. Additionally, ONE undertakes an annual EcoVadis¹ sustainability assessment comprising 21 sustainability criteria definitions, with 4 measures being of direct pertinence to Modern Slavery issues.

As ONE continues to expand our scope of operations, we recognize that our risk landscape continues to evolve. In view of this, ONE undertakes an annual review of our measures to combat Modern Slavery, to ensure adequate coverage and governance.

The table below outlines ONE’s progress and future action:

¹EcoVadis is the world’s most trusted evidence-based assessment platform with a global network of over 150,000 companies.

3. TRAINING
ONE’s e-learning platform provides all employees with perpetual access to Modern Slavery training resources, reinforcing organisation-wide awareness of ONE’s commitment to recognise and eradicate the risks of Modern Day Slavery in our operations, business landscape and supply chains.

In addition to the e-learning platform, other forms of training are provided on Modern Slavery. Our SmartCard on Modern Slavery provides readily accessible information on the Modern Slavery Act (MSA) as well as our internal policies. The information on this SmartCard has been used to provide several training sessions across our organisation and region.

The ‘Bitesize’ Awareness Training delivers key information, in a short- and easy to digest format which meets the needs of the business. The questionnaire launched simultaneously also supported awareness consolidation - with 99% of EUA employees completing it.
ONE’s Annual Compliance Refresher Quiz includes questions on Modern Slavery to assess employee awareness. The employees’ awareness level for FY2024 is 72%.

4. WHISTLEBLOWING PROGRAMME
All employees are educated on the ONE Hotline System, our whistleblowing programme, which seeks to encourage the effective communication and identification of potential violations of applicable laws, including the MSA internal rules and procedures, ONE Business Credo, ONE Code of Conduct, and the ONE Hotline System Guideline. At present, no reports have ever been made pertaining to Modern Slavery. Reports made to the ONE Hotline System will be promptly investigated and, where appropriate, disciplinary action will be taken. Employees who make a report in good faith will be protected from retaliation.

KEY HIGHLIGHTS SINCE LAST PUBLICATION
As part of our continuous improvement and review process, ONE has undertaken further actions since the previous Modern Slavery Statement:

• Mandated compliance with ONE’s Supply Chain Management Guideline for new suppliers onboarded in FY2024.
• Preparations ongoing for the incorporation of the EU Corporate Sustainability Reporting Directive (CSRD) - pending any amendments by its inclusion in the EU OMNIBUS.

Having identified a requirement for the organisation to incorporate a Modern Slavery Risk Assessment into its compliance activities, the Europe & Africa team has been responsible for developing a proof of concept (POC) which has been rolled out in the EUA region at the Regional Head Quarters (RHQ) level targeting all Functions. This POC will then be gradually rolled-out at Sub-RHQ and subsequently at country-level with the support of our Compliance Officer Network.
While we have begun by targeting our internal organisation, we have ambitions to expand the Risk Assessment initiative to target key entities of our Supply Chain.
As a responsible global ocean carrier, ONE is committed to continually improving our efforts to eradicate Modern Slavery and human trafficking in our business and broader network.

MODERN DAY SLAVERY STATEMENT REGISTRY
From October 2025, ONE will make this statement available via the UK Government’s Modern Slavery Statement Registry. The Registry has been designed to make it easier for consumers and investors to search for the Modern Slavery Statements of businesses.

This statement was approved by the Board of Directors on 23 September 2025.

Please find the signed statement here: ONE Modern Slavery Statement 2025