It’s official: Ocean Network Express (ONE) has acquired a majority stake in the TraPac and Yusen container terminal operators and vessel stevedores in Los Angeles and Oakland.
ONE announced Nov. 6 that it has secured the regulatory approvals required for a 51% stake in TraPac and YTI, as well as a 20% stake in Rotterdam World Gateway (RWG). It’s a move that strengthens ONE’s presence on the U.S. West Coast, North Europe and Southeast Asia.
The acquired West Coast terminals alone have a combined capacity of 4.3 million TEUs per year, according to ONE.
RWG operates a highly automated container terminal in the Port of Rotterdam with an annual capacity of 2.6 million TEUs. A stake in RWG, ONE said gives the company long-term capacity and strengthens its position as a key regional hub.
“Container terminals are a critical link in the supply chain with the unique ability to cushion the impact of operating disruptions,” Hiroki Tsujii, managing director of ONE’s Product and Network Division, said. “ONE will leverage these terminals to help customers manage supply chain disruptions and improve service quality.”
“In addition,” he added, “these assets will enable ONE to deliver faster and more reliable service to our customers.”
Singapore-based ONE was formed in 2017 upon the integration of liner services Kawasaki Kisen Kaisha (“K” LINE), Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kaisha (NYK). ONE operates more than 210 ships globally.