Ocean Network Express (ONE) is buying majority stakes in three container terminals on the US west coast from two of its Japanese parent companies.
The Singapore-headquartered liner company said on Tuesday that these acquisitions, its first in the container terminals sector, were part of integrating the container shipping businesses from the parent companies into ONE.
A definitive agreement has been signed to acquire Mitsui OSK Lines’ 51% stake in TraPac, a container terminal operator and stevedoring company that provides container terminal services to the ports of Los Angeles and Oakland.
