Japan’s Ocean Network Express (ONE) is spending some of its profits built up in recent years on developing its ports network. 

The Singapore-headquartered liner has just announced the signing of a share purchase agreement for a 30% stake in Hutchison Laemchabang Terminal Limited (HLT) in Thailand, following quickly on from a deal to buy into a terminal in Busan, South Korea. No fee has been revealed for the transaction.

Hiroki Tsujii, global chief officer of ONE’s product and network division, said, “By deepening our partnership with Hutchison Ports, customers can benefit from enhanced reliability and efficient solutions within this essential trade hub.”

Hutchison has been attempting to sell off its ports around the world for more than a year.