ONE Buys Stake in Busan Terminal Owned by HMM Suitor

In a strategic move, Japanese container shipping giant Ocean Network Express (ONE) has completed a long-term partnership agreement with South Korea's Dongwon Group, acquiring an indirect share in Dongwon Global Terminal Busan (DGT). The partnership comes at a time when Dongwon, South Korea's largest fishing company, has repeatedly been tipped as a potential suitor for Hyundai Merchant Marine (HMM), one of the country's top shipping lines. Dongwon's interest in HMM has been the subject of industry speculation in recent months. By investing in the Busan terminal, ONE is strengthening its foothold in a key Northeast Asian logistics hub. DGT operates a container terminal at the Port of Busan, South Korea's busiest port and a major transshipment center in the region. "This partnership will allow ONE to enhance its terminal operations and services in the Busan port, a strategically important location for our global network," said Jeremy Nixon, CEO of Ocean Network Express, in a statement. The financial terms of the deal were not disclosed. ONE said the partnership will provide "long-term stability" for its operations at the Busan facility. The move aligns with broader industry trends of container lines investing in terminal assets to gain more control over their supply chains and optimize operations. Larger carriers are increasingly looking to secure capacity at key gateway ports around the world.