According to the signed final agreement, ONE will acquire 51% of the shares of TraPac LLC (TraPac) and Yusen Terminals LLC (YTI) respectively, which are currently held by its parent company, Mitsui (MOL) and Japan Mail (NYK) respectively
ONE said that the acquisition was part of the integration of the parent company's container transport business into ONE. The completion of these transactions requires the approval of the relevant departments.
ONE said: "The interruption of the supply chain caused by the recent epidemic highlights the importance of container terminals in maintaining the smooth flow of global trade. The newly acquired container terminals will ensure that ONE can obtain terminal capacity on key and strategic portals, support its growth ambitions, and enhance its services to customers."
It is understood that TraPac is a container terminal operator and ship handling company, owned and established by Mitsui in 1985. It operates a container terminal at Los Angeles Port and Auckland Port respectively, and provides ship handling services. YTI has been providing container terminal services at Los Angeles Port since 1991, and is now jointly owned by Nippon Mail and Macquarie Infrastructure Partners.
According to Alphaliner, ONE is the seventh largest container transport company in the world, with a market share of 5.8%. Jeremy Nixon, the CEO of ONE, made a strategy for the company earlier this year, pointing out that they are going through the growth period and entering the stage of independent investment decision-making. In March 2022, he outlined a positive growth plan, saying that he would invest $20 billion by 2030, of which as much as half would be used for wharf investment.
Through acquisition, ONE has joined the ranks of larger competitors, who have also been expanding the ownership of the terminal. In January this year, Dafei completed the acquisition of the Fenix Marine Services container terminal at Los Angeles Port, which is one of the largest facilities of its kind in the United States.
According to Alphaliner, ONE is the seventh largest container transport company in the world, with a market share of 5.8%. Jeremy Nixon, the CEO of ONE, made a strategy for the company earlier this year, pointing out that they are going through the growth period and entering the stage of independent investment decision-making. In March 2022, he outlined a positive growth plan, saying that he would invest $20 billion by 2030, of which as much as half would be used for wharf investment.
Through acquisition, ONE has joined the ranks of larger competitors, who have also been expanding the ownership of the terminal. In January this year, Dafei completed the acquisition of the Fenix Marine Services container terminal at Los Angeles Port, which is one of the largest facilities of its kind in the United States.
