Singapore-based Ocean Network Express to buy 30% stake in Hutchison’s Thai port

[SINGAPORE] Ocean Network Express (ONE) is buying a 30 per cent stake in Hutchison Laemchabang Terminal (HLT), it said on Monday (Mar 30).

“This acquisition secures long-term access to competitive terminal capacity,” noted the Singapore-based shipping line, describing Thailand as a “key strategic market”.

HLT, located in Laem Chabang, Thailand, is an integral part of the kingdom’s Eastern Economic Corridor and serves as a strategic gateway in South-east Asia, said ONE.

The HLT share purchase is subject to customary closing conditions, including regulatory approvals, it added.

It follows the January announcement of ONE’s joint venture with Japanese technology group MTI to promote digital transformation in the container shipping industry. This aims to advance the digital transformation of operations and business models using artificial intelligence.

Hiroki Tsujii, global chief officer of ONE’s product and network division, said that HLT’s capabilities and its commitment to advanced port technology align with ONE’s focus, which includes innovation.

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HLT is the largest port operator in Thailand and runs the part-automated Terminal D, along with Terminals C1&C2 and A3 in Laem Chabang Port. The company is part of Li Ka-shing’s CK Hutchison Holdings.

The HLT stake sale comes as CK Hutchison’s global ports business is set to be bought by a consortium comprising asset manager BlackRock and Mediterranean Shipping Company, said a Financial Times report in early March.