Ocean Network Express (ONE) has announced its acquisition of three container terminals on the US West Coast to ensure an uninterrupted flow of goods amid recent supply chain disruptions.
ONE has signed definitive agreements to acquire a 51% stake in each of TraPac LLC (TraPac) and Yusen Terminals LLC (YTI), currently held by Mitsui O.S.K. Lines, Ltd. and Nippon Yusen Kabushiki Kaisha, respectively.
TraPac is a container terminal operator and vessel stevedore that provides container terminal services in Los Angeles and Oakland.
Meanwhile, YTI is a container terminal operator and vessel stevedore that provides container terminal services in Los Angeles.
"These acquisitions are part of the integration of the container shipping businesses from the parent companies into ONE," the shipping line said.
"The recent disruptions to the supply chain due to Covid-19 have highlighted the importance container terminals play in keeping global trade flowing," it added.
ONE noted that the newly acquired container terminals would also safeguard its access to terminal capacity in key and strategic gateways, support its growth ambitions and enhance its service offerings to customers.
The closing of these transactions is subject to the approval of the relevant authorities.
