27 December 2022 (Lloyd's List) - OCEAN NETWORK Express has agreed to acquire a 51% stake in two terminal companies held by its Japanese parents. Both TraPac LLC and Yusen Terminals LLC—owned by Mitsui OSK LinesandNippon Yusen Kabushiki Kaisha, respectively—provide container terminal services in Los Angeles, with the YTL also operating in Oakland in the US west coast. A definite agreement has been signed between the parties, while the deal remains pending regulator’s approval. The acquisitions are part of the continued efforts by MOL and NYK to integrate their container shipping businesses into ONE. “The recent disruptions to the supply chain due to the [coronavirus pandemic] have highlighted the importance container terminals play in keeping global trade flowing,” ONE said in a statement. “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.”