ONE Completes Majority Purchase of TraPac, Yusen Terminals

ONE Completes Majority Purchase of TraPac, Yusen Terminals

It’s official: Ocean Network Express (ONE) has acquired a majority stake in the TraPac and Yusen container terminals 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. 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 TEU per year, according to ONE. “Container terminals are a critical link in the supply chain with…
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Port of Oakland Amends TraPac Lease to Include Green Cargo Handling Equipment

Port of Oakland Amends TraPac Lease to Include Green Cargo Handling Equipment

The Oakland Board of Port Commissioners has altered terminal operator TraPac’s lease to include sustainable improvements to cargo handling equipment at its facilities, a major step in greening operations, the port announced May 18. The amendment marks the first time the port is adding language to a terminal operator’s lease that cargo handling equipment be updated to lower pollution. “This landmark lease agreement will bring the port closer to its goal of achieving zero emissions operations,” port Executive Director Danny Wan said in a statement. The port is incentivizing TraPac’s efforts, offering to reimburse the terminal up to 35% (or…
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Ocean Network Express Acquiring West Coast Container Terminals

Ocean Network Express Acquiring West Coast Container Terminals

Japan-based shipping company Ocean Network Express (ONE) on Dec. 27 revealed that it has signed agreements to acquire a 51% stake in two terminal operators – TraPac LLC and Yusen Terminals (YTI), which are both currently held by Mitsui O.S.K. Lines, Ltd. – and a shipping company, Nippon Yusen Kabushiki Kaisha, commonly known as NYK Line. TraPac is a container terminal operator and vessel stevedore that provides container terminal services in Los Angeles and Oakland. YTI is a container terminal operator and vessel stevedore that provides container terminal services in Los Angeles. “These acquisitions are part of the integration of…
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