ONE completes acquisition of US West Coast and Rotterdam terminals

TraPac Terminal - Los Angeles

ONE has completed the acquisition of a 51% stake in TraPac and Yusen Terminals (YTI) on the US West Coast, as well as a 20% stake in Rotterdam Global Gateway in Europe. Shares were previously held by NYK and Mitsui OSK Lines (MOL), both of which are major shareholders of ONE.

TraPac is a container terminal operator and ship stevedore providing container terminal services in Los Angeles and Oakland. YTI is a container terminal operator and ship stevedore providing container terminal services in Los Angeles. The ports have a total capacity of 4.3 million TEUs.

Meanwhile, MOL previously held shares in the RWG terminal in the Port of Rotterdam and ONE now has a 20% stake in the terminal.

Hiroki Tsujii, Managing Director of ONE's Products & Networks Division, commented: “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 July, ONE CEO Jeremy Nixon said the airline was looking to acquire additional terminal assets primarily in the form of assets owned by its parent companies – NYK, MOL and K-Line.

The latest acquisitions give ONE a footprint in key hubs on the US West Coast, Rotterdam and in Southeast Asia with an existing 49% stake in Magenta Singapore Terminals in a joint venture with PSA Singapore.

Read more:

• ONE launches a new weekly service, direct corridor from East Asia to Indonesia
• ONE opens new intra-Asia service connecting to Cat Lai Port, Ho Chi Minh City

Source: Phaata.com (According to Seatrade Maritime) 

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