“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.
 


Ports

Vitol's Malaysia Terminal Suspends Ops after Spill

VTTI, the storage unit of world's largest oil trader Vitol, has suspended operations at its terminal in southern Malaysia following an oil spill, two industry sources said on Friday.

Shenzhen Port to Adopt China ECA Regulation

China's Shenzhen port is set to to adopt requirements for ships at berth requiring to burn marine fuel with sulfur content not exceeding 0.5 percent starting October this year,

Cochin Port Gets a Little 'Breathing Space'

The Cabinet Committee on Economic Affairs of India, chaired by the Prime Minister Narendra Modi, has given its approval for waiver of penal interest on Government

News

MV WERFTEN, Foreship Sign Design Agreements

MV WERFTEN signed a letter of intent with the engineering company Foreship in Stralsund today. The agreement includes parts of the basic design as well as design,

NParks, Keppel in S$2.08 mln Partnership for Restoring Singapore Forest Wetlands

The National Parks Board (NParks) and Keppel Corporation today unveiled plans for a partnership to restore the freshwater forest wetland ecosystem historically

Zumaia Offshore Acqires MPP Workboat Aitana B

In April 2016 Zumaia Offshore, S.L., leading workboat owner and operator based in the Basque Country, took delivery of the Cummins-powered MPP workboat “Aitana

Mergers & Acquisitions

Hapag-Lloyd Shareholders Okays Merger with UASC

Hamburg-based ocean carrier Hapag-Lloyd said its shareholders approved all items on the agenda at Annual General Meeting, mainly the  share capital increase needed

Rickmers Holding, E.R. Capital Drop Merger Plan

Rickmers Holding AG and E.R. Capital Holding have jointly decided not to pursue the merger of their ship management activities.   For many years the companies

Hapag-Lloyd: UASC Merger Benefits to show in 2017

German container shipping line Hapag-Lloyd expects to reap a third of targeted annual synergies of $400 million from the planned merger with Arab rival UASC already next year,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | 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: 0.0789 sec (13 req/sec)