On November 6th, it was reported that Ocean Network Express (ONE) has completed the acquisition of a 51% stake in US West Coast-based TraPac and Yusen Terminals (YTI), as well as a 20% stake in European Rotterdam Gateway. These shares were previously held by Nippon Yusen Kaisha (NYK) and Mitsui O.S.K. Lines (MOL), both of which are major shareholders of ONE.

TraPac is a container terminal operator and ship loader/unloader, providing container terminal services in Los Angeles and Oakland. YTI is also a container terminal operator and ship loader/unloader, providing container terminal services in Los Angeles. The total capacity of these terminals is 4.3 million TEUs.

At the same time, MOL previously held a stake in the Rotterdam port’s RWG facility with a capacity of 2.6 million TEUs, and now ONE owns 20% of the terminal.

Hiroki Tsujii, Director General of ONE’s Product and Network Department, commented, “Container terminals are a crucial part of the supply chain and have a unique ability to buffer the impact of operational interruptions. ONE will use these terminals to help our customers manage supply chain disruptions and improve service quality. Additionally, these assets will enable ONE to provide customers with faster and more reliable services.”

In July of this year, ONE CEO Jeremy Nixon stated that the company is seeking to acquire more terminal assets, primarily in the form of assets owned by parent companies NYK, MOL, and K-Line.

The latest acquisitions have positioned ONE as a key player in major hubs on the US West Coast, Rotterdam, and Southeast Asia, with a 49% stake in Magenta Singapore Terminals, a joint venture with Singapore Ports Group (PSA).