OCEAN Network Express has signed deals to acquire controlling stakes in three container terminals on the US West Coast.
ONE is to acquire a 51% stake in each of TriPac and Yusen Terminals, currently held by Mitsui O.S.K. Lines and Nippon Yusen Kabushiki Kaisha, respectively.
TriPac is a container terminal operator and stevedore that provides container terminal services in Los Angeles and Oakland.
YTI is a container terminal operator and stevedore that provides services in Los Angeles.
In a statement, ONE said the acquisitions were part of the integration of its container shipping business.
“The recent disruptions to the supply chain due to Covid-19 have highlighted the importance container terminals play in keeping global trade flowing,” the company said.
“The newly acquired container terminals will safeguard ONE’s access to terminal capacity in key and strategic gateways, support its growth ambitions and enhance its service offerings to customers.”
The company said the deals are still subject to approval of the relevant authorities.
