Join our crew and become one of the 107,099 members that receive our newsletter.

cargo ships loading at port of oakland

An Ocean Network Express (ONE) containership at the Port of Oakland. Credit: Sheila Fitzgerald /

ONE to Acquire Three U.S. West Coast Container Terminals

Mike Schuler
Total Views: 10623
December 27, 2022

Japanese shipping company Ocean Network Express (ONE) has announced an agreement to acquire controlling stakes in three U.S. West Coast container terminals.

ONE has signed definitive agreements to acquire a 51% stake in each of TraPac LLC and Yusen Terminals LLC from Mitsui O.S.K. Lines, Ltd. (MOL) and Nippon Yusen Kabushiki Kaisha (NYK Line), respectively. TraPac operates the TraPac Los Angeles container terminal at the Port of Los Angeles and a second container terminal at the Port of Oakland. YTI operates the Yusen Container Terminal at the Port of Los Angeles.

“These acquisitions are part of the integration of the container shipping businesses from the parent companies into ONE,” ONE said in a press release. “The recent disruptions to the supply chain due to Covid-19 have highlighted the importance container terminals play in keeping global trade flowing. The newly acquired container terminals will safeguard ONE’s access to terminal capacity in key and strategic gateways, support its growth ambitions and enhance its service offerings to customers.”

ONE was formed in 2017 through the combination of Japan’s three biggest container shipping lines, NYK Line, “K” Line and MOL. The new company kicked off operations on April 1, 2018 and currently ranks as the world’s seventh largest container ship operator controlling a fleet of more than 200 containerships and 1.5 million TEU capacity, according to Alphaliner.

The closing of the terminal transactions are subject to the approval of the relevant authorities.

Unlock Exclusive Insights Today!

Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.

Sign Up
Back to Main
polygon icon polygon icon

Why Join the gCaptain Club?

Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.

Sign Up


Maritime and offshore news trusted by our 107,099 members delivered daily straight to your inbox.

Join Our Crew

Join the 107,099 members that receive our newsletter.