Ocean Network Express (ONE), a Japanese shipping carrier, has expanded its global footprint with purchases of terminal operators in the U.S. and in the Netherlands.
ONE, the world’s sixth-largest shipping carrier, closed on its acquisition of Trapac, Yusen, and Rotterdam World Gateway, three terminal operators crucial to operations at U.S. West Coast ports and ports in Rotterdam. The completion of the deal comes approximately a year after respective governments approved the move to make the acquisition.
Trapac and Yusen are the largest by TEUs, collectively managing over 4.3 million TEUs annually. Trapac operates terminals at the Ports of Los Angeles-Long Beach and Oakland, in California. Yusen, for its part, operates out of the Ports of Los Angeles-Long Beach, the largest U.S. West Coast port. Rotterdam World Gateway processes up to 2.6 million TEUs annually out of the Port of Rotterdam in the Netherlands.
As part of the deal, ONE is taking 51% ownership in both Trapac and Yusen, and is taking a 20% stake in Rotterdam World Gateway.
Hiroki Tsujii, the head of the Product & Network Division at ONE, had this to say on the news:
“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 making the acquisitions, ONE hopes that its renewed investment at the ports in question will allow it more access to greater capacity as shipping patterns change worldwide. As Tsujii stated, the company also hopes to increase processing speeds and delivery times.