“K” Line and Ports America Deal on Strategic Partnership

By Joseph R. Fonseca
Friday, August 01, 2014
Terminal Operation backed by K Line

 

KAWASAKI KISEN KAISHA, LTD. (“K” Line) is pleased to announce that “K” Line and Ports America have agreed to form a strategic partnership aimed at enhancing and expanding “K” Line’s container terminal business.

International Transportation Service, Inc.(ITS), which is a wholly-owned subsidiary of “K” Line, has operated container terminals in Long Beach and Tacoma for more than 40 years. ITS was the pioneer in providing on-dock double stack rail service to its customers, which enable them to have direct delivery across North America, especially to inland delivery points in the mid-west. The partnership with Ports America, which operates terminals throughout the U.S., will further enhance “K” Line’s terminals with high operating standards, improved efficiency, quality service and cost competitiveness. This will enable ITS to handle ultra-large containerships and continuously support “K” Line’s transpacific service.

“K” Line has maintained a good relationship with Ports America, the largest terminal operator and stevedoring company in the United States. Ports America provides stevedoring services to “K” Line in Oakland for containerships and in Jacksonville, Newark, Brunswick and Charleston for car carriers.

With this transfer of a partial stake in ITS to Ports America, ITS will be well positioned to meet its core objectives and to ensure a successful strategic partnership between “K” Line and Ports America.

・Details of the transfer
(1) Subsidiary                          : International Transportation Service, Inc.(KL: 100 percent)
(2) Transfer to                         : Ports America (Headquarters: New Jersey, U.S.)
(3) Shares to be transferred   : 30 percent
(4) Date of the transfer       : Closing will occur after regulatory approvals, expected in late August 2014.
 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

St. Lawrence Seaway Receives Strike Notice

The St. Lawrence Seaway Management Corporation (SLSMC) was served a 72-hour notice to strike by UNIFOR, a group representing the Seaway’s 460 unionized employees.

'Environmental' Hull Cleaning Ops OK'd in Oman

Oman’s Ministry of Environment and Climate Affairs has granted GAC EnvironHull permission to conduct underwater hull cleaning operations using the brush-and-diver-free

EU to Invest in Port of Dublin Development

The EU's TEN-T Program  will co-fund with almost €2.5 million studies on the capacity development in the Port of Dublin to improve the freight traffic connection

News

USCG Suspends Search for the 2 Migrants

The Coast Guard suspended its search Wednesday at 3 p.m. for two missing Cuban migrants in the vicinity of Caesar Creek, Florida, to Haulover Inlet, Florida.

Danny Broad Appointed to ARENA Board

The Chair, Board members and staff of the Australian Renewable Energy Agency (ARENA) are delighted to advise that Danny Broad has been appointed by the Australian Government to the Board of ARENA.

First Libra Offshore Oil Well Confirms Discovery

Libra consortium reports that drilling the first well in the area extension of Libra, the 3-BRSA-1255-RJS (3-RJS-731), confirmed the discovery of good quality

Mergers & Acquisitions

Fincantieri & Vittoria Shipyard Join Forces

During the 24th edition of Euronaval, the most prestigious event in the world for naval defense, Fincantieri, one of the major shipbuilding groups worldwide, and Vittoria Shipyard,

Hurtigruten Shares at 6-yr High After Bid

Norway's Hurtigruten, which operates scenic cruise lines along the country's fjords and into the Arctic, has agreed to a takeover offer from a group led by several board members,

CEVA and L’Oréal Extend Relationship in Indonesia

CEVA Logistics, a leading global supply chain management company, announced a contract renewal and expanded business with L'Oréal in Indonesia, the world's leading beauty brand.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1143 sec (9 req/sec)