ONE takes majority stake in TraPac and Yusen Terminals
Ocean Network Express (ONE) has signed definitive agreements to acquire a 51% stake in each of TraPac and Yusen Terminals, currently held by Mitsui O.S.K. Lines, and Nippon Yusen Kabushiki Kaisha respectively.
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.
“These acquisitions are part of the integration of the container shipping businesses from the parent companies into ONE. The recent disruptions to the supply chain due to Covid-19 have highlighted the importance container terminals play in keeping global trade flowing,” ONE 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.”
TraPac has implemented a number of programs and technologies at its Los Angeles terminal to mitigate vessel emissions, including automated straddle carriers – low-emission hybrid-electric vehicles that move containers between the waterside transfer area, alternative maritime power (AMP) and bonnet capture (a system for ships that are not equipped for shore power) allowing every single vessel calling at TraPac to shut down its auxiliary engines while at berth to reduce pollutants, greenhouse gases, and noise.
Yusen Terminals LLC based in Los Angeles, CA, is a company jointly owned by NYK Group and Macquarie Infrastructure Partners from Sydney, Australia.
YTI provides services to The Alliance (ONE, Hapag-Lloyd, HMM and Yang Ming) and takes slot chartering from Evergreen, CMA-CGM, APL, COSCO, and OOCL. The terminal also offers AMP.
The closing of the transactions is subject to the approval of the relevant authorities.