Ocean Network Express (ONE) is strengthening its global presence with terminal acquisitions in the US West Coast and Rotterdam.
"ONE is pleased to announce it has obtained all necessary regulatory approvals and completed its acquisition of a 51% stake in each of TraPac LLC (TraPac) and Yusen Terminals LLC (YTI), and a 20% stake in Rotterdam World Gateway (RWG)," the ocean carrier said.
It added that in addition to strengthening ONE's presence in the global supply chain, these acquisitions safeguard its access to terminal capacity in key and strategic gateways, support its growth ambitions, and enhance its service offerings to customers.
TraPac and YTI are container terminal operators and vessel stevedores that provide container terminal services in Los Angeles and Oakland, California.
ONE said both terminals are equipped with the latest technology and have been serving liners at the Port of Los Angeles since 1987 and 1991, respectively.
With a combined capacity of 4.3 million TEU annually, the acquisition of these two terminals further strengthens ONE's position on the US West Coast.
RWG operates a highly automated container terminal in the Port of Rotterdam with an annual capacity of 2.6 million TEUs.
ONE said a stake in RWG gives ONE long-term capacity and strengthens ONE's position as a key hub in the region.
It added that these acquisitions are part of ONE's midterm strategy to continuously invest in its operations.
"Container terminals are a critical link in the supply chain with the unique ability to cushion the impact of operating disruptions," said Hiroki Tsujii, managing director of ONE's Product & Network Division.
He also emphasized the strategic value of the acquisitions.
"ONE will leverage these terminals to help customers manage supply chain disruptions and improve service quality. In addition, these assets will enable ONE to deliver faster and more reliable service to our customers," Tsujii added.
With the completion of these three acquisitions, ONE establishes a strong presence in three key strategic locations: the US West Coast (Trapac, YTI), North Europe (RWG), and South East Asia (Magenta Singapore Terminal).
