Ocean Network Express (ONE) has obtained all necessary regulatory approvals and completed its acquisition of a 51 percent stake in TraPac and Yusen Terminals (YTI), and a 20 percent stake in Rotterdam World Gateway (RWG). These acquisitions safeguard ONE's access to terminal capacity in key and strategic gateways, support its growth ambitions, and enhance its service offerings to customers, says an official release. "TraPac and YTI are container terminal operators and vessel stevedores that provide container terminal services in Los Angeles and Oakland, California. With a combined capacity of 4.3 million TEU annually, the acquisition of these two terminals further strengthens ONE's position on the U.S. West Coast." RWG operates a highly automated container terminal in the Port of Rotterdam with an annual capacity of 2.6 million TEU, the release added.

Source: The North Africa Journal November 06, 2023 11:38 UTC