ONE Strengthens Global Presence with Terminal Acquisitions in the US West Coast and Rotterdam
Singapore, 6 November, 2023 – Ocean Network Express (“ONE”) is pleased to announce it has obtained all necessary regulatory approvals and completed its acquisition of a 51% stake in each of TraPac LLC (“TraPac”) and Yusen Terminals LLC (“YTI”), and a 20% stake in Rotterdam World Gateway (RWG). 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.
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.
These acquisitions are part ONE’s midterm strategy to continuously invest in its operations. Hiroki Tsujii, Managing Director of ONE’s Product & Network Division, emphasized the strategic value of these acquisitions: “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.”
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).
About Ocean Network Express (ONE)
Ocean Network Express (ONE) was incepted on July 7, 2017 following the liner service integrations of Kawasaki Kisen Kaisha (“K” LINE), Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kaisha (NYK). The new entity functions from its global headquarter in Singapore, supported by regional headquarters in Hong Kong, Singapore, the United Kingdom, the United States and Brazil. Operating more than 210 vessels, it offers an expeditious and a reliable international network of over 170 services to 120 countries and beyond. ONE is the world’s sixth largest container carrier with a fleet size of approximately 1.69 million TEU. ONE is a member of THE Alliance (THEA), a global ocean carrier consortium.
For more information, please visit www.one-line.com