SINGAPORE-HEADQUARTERED Japanese liner Ocean Network Express (ONE) has obtained all necessary regulatory approvals and completed its acquisition of a 51 per cent stake in each of TraPac and Yusen Terminals on the US west coast, and a 20 per cent stake in Rotterdam World Gateway (RWG).
TraPac and Yusen Terminals are container terminal operators and vessel stevedores that provide container terminal services in Los Angeles and Oakland, California. They have a combined capacity of 4.3 million TEU annually while RWG in Europe has an annual capacity of 2.6 million TEU.
In a statement, the carrier said 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".
Hiroki Tsujii, managing director of ONE's product and 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."
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 US West Coast.
RWG operates a highly automated container terminal in the Port of Rotterdam with an annual capacity of 2.6 million TEU. A stake in RWG gives ONE long-term capacity and strengthens ONE's position as a key hub in the region.
With the completion of these three acquisitions, ONE has established a strong presence in three key strategic locations: the US West Coast (Trapac, YTI), North Europe (RWG), and South East Asia (Magenta Singapore Terminal).
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