Ocean Network Express (ONE) has received all necessary regulatory approvals and finalised its acquisition of a 51% stake in each of TraPac LLC (TraPac) and Yusen Terminals LLC (YTI), as well as a 20% stake in Rotterdam World Gateway (RWG).
“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,” said the company in a statement.
ONE has developed a strong presence in three important strategic places with the completion of these three acquisitions:
- US West Coast (Trapac, YTI)
- North Europe (RWG)
- South East Asia (Magenta Singapore Terminal).
TraPac and YTI are container terminal operators and vessel stevedores in Los Angeles and Oakland in California, US. Both terminals are technologically advanced and have been serving liners at the Port of Los Angeles since 1987 and 1991, respectively. The acquisition of these two terminals, which have a combined capacity of 4.3 million TEUs per year, is expected to improve ONE’s position on the US West Coast.
RWG runs a highly automated container terminal in the Port of Rotterdam with a 2.6 million TEU yearly capacity. A share in RWG provides ONE with long-term capacity and improves its position as a regional centre in Europe.
“Container terminals are a critical link in the supply chain with the unique ability to cushion the impact of operating disruptions. 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,” stated Hiroki Tsujii, managing director of ONE’s Product & Network Division.
