“K” Line and Ports America Deal on Strategic Partnership
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.