Japanese container shipping line ONE has cemented its grip on its nascent port terminal network after completing the acquisition of a 51% stake in a series of TraPac and Yusen terminals in North America and Singapore.
It also completed the purchase of 20% stake in the Rotterdam World Gateway (RWG) Terminal.
The deal is very much a question of the carrier getting its house in order following its creation, via the merger of three main Japanese carriers, K Line, MOL and NYK, in 2017. TraPac was MOL’s terminal operating arm, while Yusen Terminals fulfilled a similar function for NYK Line.
Henceforth, ONE will operate the TraPac terminal in the US west coast port of Oakland, as well as the TraPac and Yusen Terminals facilities in the port of Los Angeles, which sit beside each other on the inner part of the Californian port.
One said it would now control around 4.3m teu of annual handling capacity on the US west coast.
In Singapore, it will now consolidate its part-ownership of the Magenta Terminal, which is operated in a joint-venture with port operator PSA.
Meanwhile, at Rotterdam, the highly automated RWG termional boasts an annual capacity of 2.6m teu and gives ONE and its alliance partners a key hub in north-west Europe.
ONE said the acquisitions were part of its medium-term strategy to invest in operational capacity. The director of its product and network division, Hiroki Tsujii, said: “Container terminals are a critical link is 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.”