ONE acquires stakes in US West Coast and Rotterdam terminals

ONE acquires terminals in US west coast and Rotterdam

Ocean Network Express (ONE) has completed its acquisition of a 51 per cent stake in each of TraPac LLC (TraPac) and Yusen Terminals LLC (YTI), and a 20 per cent stake in Rotterdam World Gateway (RWG).

TraPac and YTI are container terminal operators and vessel stevedores in Los Angeles and Oakland, California, respectively. 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 TEU per year, is set to improve ONE’s position on the US West Coast.

READ: ONE service calls at HHLA PLT Italy

RWG runs a highly-automated container port 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 ONE’s position as a regional centre.

These purchases are part of ONE’s long-term plan to invest consistently in its operations.

Hiroki Tsujii, Managing Director of ONE’s Product & Network Division, said: “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.”

In October, ONE released its financial results for the second quarter of 2023, reporting a 62 per cent decline in revenue to $3.54 billion.

That same month, ONE announced its new Indian Ocean Mediterranean service (IOM), connecting India, Pakistan, and the Middle East to the Mediterranean region.

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