XINDE MARINE NEWS
ONE to Acquire Three U.S. West Coast Container Terminals gCaptain 2022-12-28 14:12

An Ocean Network Express (ONE) containership at the Port of Oakland. Credit: Sheila Fitzgerald / Shutterstock.com

Japanese shipping company Ocean Network Express (ONE) has announced an agreement to acquire controlling stakes in three U.S. West Coast container terminals.
 
ONE has signed definitive agreements to acquire a 51% stake in each of TraPac LLC and Yusen Terminals LLC from Mitsui O.S.K. Lines, Ltd. (MOL) and Nippon Yusen Kabushiki Kaisha (NYK Line), respectively. TraPac operates the TraPac Los Angeles container terminal at the Port of Los Angeles and a second container terminal at the Port of Oakland. YTI operates the Yusen Container Terminal at the Port of Los Angeles.
 
“These acquisitions are part of the integration of the container shipping businesses from the parent companies into ONE,” ONE said in a press release. “The recent disruptions to the supply chain due to Covid-19 have highlighted the importance container terminals play in keeping global trade flowing. The newly acquired container terminals will safeguard ONE’s access to terminal capacity in key and strategic gateways, support its growth ambitions and enhance its service offerings to customers.”
 
ONE was formed in 2017 through the combination of Japan’s three biggest container shipping lines, NYK Line, “K” Line and MOL. The new company kicked off operations on April 1, 2018 and currently ranks as the world’s seventh largest container ship operator controlling a fleet of more than 200 containerships and 1.5 million TEU capacity, according to Alphaliner.

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.

Please Contact Us at:

media@xindemarine.com


展开全文

Related Posts

Successful Propulsion and Manoeuvrability Trials by Fortescue's Dual-fuelled Ammonia-Powered Vessel i

MPA2024-05-06

Financiers and Insurers Ready to Support Electrification of the Domestic Harbour Craft Sector

MPA2024-04-11

Shanghai Port Performs China's First Green Methanol STS Bunkering of Large Container Vessel

xinde marine news2024-04-10

MPA and ST Engineering AirX Collaborate on Wing-in-Ground Trials

MPA2024-04-09

First pilot trial for electric harbour craft charging point launched at Marina South Pier

MPA2024-04-08

Shandong Port Group marks advancements in building world-class port cluster

Shandong Port Group2024-03-22