Japanese containerline Ocean Network Express (ONE) has completed a long-term partnership agreement with Dongwon Group by 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 to be in the running to mount a takeover bid for HMM, South Korea’s flagship carrier.

DGT is South Korea’s first fully automated container terminal, utilising automated guided vehicle (AGV) operations in Busan. Upon completion of its final development stage, DGT will have a capacity exceeding 4.5 m teu.

“Given Busan’s position as a significant transshipment hub and local gateway, this strategic partnership will enable ONE to optimize cargo flows and manage transshipment operations more effectively,” ONE stated in a release.