Posted on April 1, 2026
By Marcus Hand
Singapore-headquartered Ocean Network Express (ONE) has inked a share purchase agreement for a 30% stake in Hutchison Laemchabang Terminal Ltd.
The acquisition gives ONE a stake in the largest terminal operator in Laem Chabang which runs terminal A3, C1 and C2, D, securing capacity in the Thai gateway port.
Hiroki Tsujii, Global Chief Officer of ONE’s Product & Network Division, says, “Our investment in HLT marks a significant milestone in our strategy to secure capacity in key gateways globally.
“By deepening our partnership with Hutchison Ports, customers can benefit from enhanced reliability and efficient solutions within this essential trade hub.”
Hutchison Ports parent CK Hutchison has been seeking to sell its international terminal business outside China. However, a $22.8 billion deal announced over a year ago to sell the terminals business to a consortium comprising the world’s largest shipping line MSC and BlackRock has become mired in geopolitics with the Chinese government. Beijing is insisting on a Chinese partner in the deal understood to be Cosco Shipping.
Meanwhile a separate portion of the deal to sell 100% of Hutchison’s two terminals in Panama floundered after the Panamanian government declared the concession for the Balboa and Cristobal terminals unconstitutional and took over the port facilities. CK Hutchison branded the takeover illegal and is claiming over $2 billion in damages through international arbitration.
ONE, owned equally by Japanese shipping companies NYK, Mistui OSK Lines (MOL), and K Line, has been investing outside its core container line business. It a recently announced a deal to increase its stake in Atlas Corp to 49%. Atlas Corp is the owner of the world’s largest container ship tonnage provider Seaspan Corp.
The acquisition of a 30% share in Hutchison Laemchabang Terminal Ltd is subject to regulatory approvals.
