Ocean Network Express CEO Jeremy Nixon has hinted at the possibility of further terminal acquisitions in an announcement released today.
This follows the signing, in December last year, of definitive agreements to acquire a 51% stake in both the Trapac and YTI container terminals in Los Angeles, and the Trapac container terminal in Oakland.
These acquisitions are designed to enhance the integration of ONE's ocean and landside services on the USA West Coast, and provide a more seamless interface for future intermodal cargo and vessel berthing arrangements.
“As a result, ONE has set up its own dedicated terminal division internally and will continue to assess other terminal acquisitions in the future,” said Nixon.
The recent disruptions to the supply chain due to Covid-19 have highlighted the importance container terminals play in keeping global trade flowing, a factor that has motivated several shipping lines to add muscle to their terminal operations.
German carrier Hapag-Lloyd has been among the more aggressive players, most recently acquiring a substantial stake in J M Baxi Ports & Logistics Limited, a private terminal and inland transport service provider in India.
The carrier recently signed an agreement to acquire the terminal business of Chile-based SM SAAM. It also has stakes in the Italy-based Spinelli Group, the JadeWeserPort in Wilhelmshaven, the Container Terminal Altenwerder in Hamburg, Terminal TC3 in Tangier, and Terminal 2 in Damietta, Egypt, which is currently under construction.
