ONE completes terminal acquisition in Los Angeles, Oakland, Rotterdam

November 6, 2023

Ocean Network Express (ONE) said Monday it has cleared regulatory hurdles in the US and Europe, allowing the carrier to close the acquisitions of a controlling stake in marine terminals in Los Angeles and Oakland and a minority stake in a Rotterdam terminal. 

The deals involve TraPac’s terminals in Los Angeles and Oakland, the Yusen Terminal (YTI) in Los Angeles, and a 20% stake in Rotterdam World Gateway (RWG). 

With the latest acquisitions, the Singapore-based carrier has increased its access to terminal capacity at strategic port gateways on the US West Coast and North Europe. The terminals will be added to ONE’s Magenta Singapore Terminal, a joint venture with PSA in its home base that began operations in 2019. 

“Container terminals are a critical link in the supply chain with the unique ability to cushion the impact of operating disruptions,” Hiroki Tsujii, managing director of product and network division at ONE, said in a statement. 

ONE was formed in 2017 from the merger of the container shipping operations of Mitsui O.S.K. Lines (MOL), NYK Line and “K” Line, but the initial agreement to create ONE did not cover terminal operations and non-containerized vessel services. The acquisitions bring TraPac terminals in Los Angeles and Oakland, previously owned by MOL, and NYK Line’s Yusen terminal in Los Angeles under the control of ONE. 

“ONE will leverage these terminals to help customers manage supply chain disruptions and improve service quality,” Tsujii said. 

TraPac and YTI have a combined capacity of 4.3 million TEUs annually, while Rotterdam’s RWG operates a highly automated 2.6 million-TEU terminal in Europe’s largest container port. The RWG stake adds long-term access to capacity in ONE’s key North Europe hub. 

Tag JOC.com