Ocean Network Express (ONE) has obtained all necessary regulatory approvals and completed its acquisition of a 51 percent stake in TraPac and Yusen Terminals (YTI), and a 20 percent stake in Rotterdam World Gateway (RWG).
These acquisitions safeguard ONE’s access to terminal capacity in key and strategic gateways, support its growth ambitions, and enhance its service offerings to customers, says an official release.
“TraPac and YTI are container terminal operators and vessel stevedores that provide container terminal services in Los Angeles and Oakland, California. 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 U.S. West Coast.”
RWG operates a highly automated container terminal in the Port of Rotterdam with an annual capacity of 2.6 million TEU, the release added.
“Container terminals are a critical link in the supply chain with the unique ability to cushion the impact of operating disruptions,” says Hiroki Tsujii, Managing Director, Product & Network Division, ONE. “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.”
With the completion of these three acquisitions, ONE has established a strong presence in three key strategic locations: the U.S. West Coast (Trapac, YTI), North Europe (RWG) and South East Asia (Magenta Singapore Terminal), the release added.