{"id":1058,"date":"2023-01-04T10:59:39","date_gmt":"2023-01-04T02:59:39","guid":{"rendered":"http:\/\/www.hajomech.com\/one-purchases-controlling-interest-in-three-california-terminals\/"},"modified":"2023-01-04T10:59:39","modified_gmt":"2023-01-04T02:59:39","slug":"one-purchases-controlling-interest-in-three-california-terminals","status":"publish","type":"post","link":"http:\/\/www.hajomech.com\/one-purchases-controlling-interest-in-three-california-terminals\/","title":{"rendered":"ONE PURCHASES CONTROLLING INTEREST IN THREE CALIFORNIA TERMINALS"},"content":{"rendered":"
\n

Ocean Network Express (ONE) is acquiring a controlling interest in three <\/p>\n

container terminals in California as the five-year-old company moves forward <\/p>\n

with its investment strategies. Established in 2017 by three Japanese shipping <\/p>\n

companies, ONE said the acquisition of the interests in the terminals from its <\/p>\n

Japanese parent companies is part of its growth strategy and will safeguard <\/p>\n

access to terminal capacity in key and strategic gateways.<\/p>\n

\"ONE<\/p>\n

\u201cThe recent disruptions to the supply chain due to Covid-19 have <\/p>\n

highlighted the importance container terminals play in keeping global trade <\/p>\n

flowing,\u201d said ONE. \u201cThe newly acquired container terminals will safeguard ONE\u2019s <\/p>\n

access to terminal capacity in key and strategic gateways, support its growth <\/p>\n

ambitions and enhance its service offerings to customers.\u201d<\/p>\n

<\/p>\n

Under the terms of the definitive agreements reached between ONE and its <\/p>\n

parent companies, Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kabushiki Kaisha <\/p>\n

(NYK), ONE will acquire a 51 percent stake in both TraPac and Yusen Terminals. <\/p>\n

In making the acquisitions ONE joins larger competitors which have also been <\/p>\n

expanding their ownership of terminals. In January, CMA CGM completed its <\/p>\n

acquisition of the Fenix Marine Services container terminal at the Port of Los <\/p>\n

Angeles, one of the largest facilities of its kind in the United States.<\/p>\n

<\/p>\n

The acquisition by ONE is part of the integration of the container shipping <\/p>\n

businesses from the parent companies into ONE. The closing of these transactions <\/p>\n

is subject to the approval of the relevant authorities.<\/p>\n

<\/p>\n

TraPac was established in 1985 by Mitsui O.S.K. Lines to operate a <\/p>\n

container terminal in Los Angeles. Today it also has a terminal in Oakland, <\/p>\n

California and it provides vessel stevedore services. Yusen Terminals, which has <\/p>\n

been a Port of Los Angeles tenant since 1991, is currently jointly owned by NYK <\/p>\n

and Macquarie Infrastructure Partners.<\/p>\n

<\/p>\n

Jeremy Nixon, CEO of ONE, earlier this year mapped out the strategy for the <\/p>\n

company noting that they were moving beyond their formative years into a phase <\/p>\n

of making independent investment decisions. He outlined an aggressive growth <\/p>\n

plan in March 2022 saying they would invest $20 billion by 2030 with up to half <\/p>\n

going for investments in terminals.<\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"

Ocean Network Express (ONE) is acquiring a controlling interest in three container terminals in California as the five-year-old company moves forward with its investment strategies. Established in 2017 by three Japanese shipping companies, ONE said the acquisition of the interests in the terminal…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"hj_lang":[3],"class_list":["post-1058","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/posts\/1058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/comments?post=1058"}],"version-history":[{"count":0,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/posts\/1058\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/media?parent=1058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/categories?post=1058"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/tags?post=1058"},{"taxonomy":"hj_lang","embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/hj_lang?post=1058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}