Ocean Network Express (ONE) has obtained regulatory approval and completed its acquisition of a 51% stake in each of TraPac LLC and Yusen Terminals LLC (YTI), and a 20% stake in Rotterdam World Gateway (RWG).
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, 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. 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 establishes a strong presence in three key strategic locations: the US West Coast (Trapac, YTI), North Europe (RWG), and South East Asia (Magenta Singapore Terminal).
ONE is headquartered in Singapore and operates more than 210 vessels. It is the world’s sixth largest container carrier with a fleet size of approximately 1.69 million TEU and is a member of THE Alliance, a global ocean carrier consortium.