Ocean Network Express (ONE) has completed its acquisition of majority stakes in TraPac LLC, Yusen Terminals LLC, and a minority stake in Rotterdam World Gateway (RWG). TraPac and YTI are container terminal operators in Los Angeles and Oakland, respectively, while RWG runs a highly automated container port in Rotterdam. These acquisitions will enhance ONE’s presence and capacity on the US West Coast and as a regional center in Europe. The move is part of ONE’s long-term strategy to consistently invest in its operations and improve service quality for its customers.
TraPac and YTI have been serving liners at the Port of Los Angeles since the late 1980s and early 1990s, respectively. With their combined capacity of 4.3 million TEU per year, these technologically advanced terminals will help ONE better manage supply chain disruptions and provide faster and more reliable services. The acquisition of a share in RWG, which has a yearly capacity of 2.6 million TEU, strengthens ONE’s long-term capacity and position in the Port of Rotterdam. These strategic investments align with ONE’s goal to cushion the impact of operating disruptions and enhance service quality.
In October, ONE reported a significant decline in revenue for the second quarter of 2023. However, despite this financial setback, ONE remains committed to its growth strategy, as evidenced by the recent acquisitions and the announcement of its new Indian Ocean Mediterranean service. By continuously investing in its operations and expanding its network, ONE aims to overcome challenges, improve efficiency, and better serve its customers in the global shipping industry.
