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Monday, 06 November 2023 06:07

ONE Completes Acquisitions in US West Coast and Rotterdam Terminals

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

TraPac is a container terminal operator and vessel stevedore that provides container terminal services in Los Angeles and Oakland. YTI is a container terminal operator and vessel stevedore that provides container terminal services in Los Angeles. The terminals have a combined capacity of 4.3 million.

Meanwhile MOL previously held a stake in the 2.6 million teu capacity RWG facility in the Port of Rotterdam and ONE now has a 20% stake in this terminal.

Hiroki Tsujii, Managing Director of ONE’s Product & Network 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 company was looking to acquire more 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 in 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.

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