Ocean Network Express (ONE) has acquired an indirect stake in Dongwon Global Terminal Busan (DGT), in a deal through which the Singapore-based shipping company expands its presence in one of the main transshipment nodes in Asia. The company has not specified the percentage acquired and has limited itself to stating that it is a "significant" stake within an infrastructure considered strategic due to its role in regional traffic and its capacity to channel international connections.
ONE's entry into the capital of DGT occurs at a time when major shipping companies are intensifying their interest in securing capacity in key terminals through equity stakes, long-term agreements, or operational alliances. In this case, the operation focuses on a facility that the company itself presents as the first fully automated container terminal in South Korea, which is managed by Dongwon Group.
For ONE, the investment responds to Busan's weight as a transshipment enclave and as an entry and exit point for local traffic. The company believes that this position will allow it to optimize cargo flows, coordinate its vessels' schedules with greater precision, and improve the overall reliability of its network. Access to capacity in a terminal with a high level of automation aligns with the goal of having more leeway over operational management in a market conditioned by demand fluctuations, port congestion, and changes in maritime routes.
Dongwon Global Terminal Busan began operations in April 2024. The facility has been designed with a yard system based on automated stacking cranes, known as Automated Stacking Cranes (ASC), while for horizontal transportation within the terminal, automatically guided vehicles or Automated Guided Vehicles (AGV) have been chosen. This configuration aims to organize internal movements and raise efficiency in container handling within a setting designed to operate with a high degree of digitalization and automation.
When fully developed, the terminal will have five berths with a total length of 1,750 meters, in addition to an additional berth for feeder services of 385 meters. The planned capacity will exceed 4.5 million TEU, placing the facility among the most significant assets of the South Korean port system for container traffic. The combination of capacity, automation, and location makes DGT an infrastructure of special interest for shipping companies looking to secure stable spaces in transshipment ports with strong regional connections.
From the company, Hiroki Tsujii, Global Chief Officer for Product and Network of ONE, has noted that this agreement is aimed at sustaining a stable service for its customers and improving the management of transshipment operations. The reference to direct access to capacity at the terminal reflects a logic shared by other major shipping lines, which in recent years have sought to reduce their dependence on third parties at certain sensitive points in the maritime network.
ONE's move is part of a broader trend within the liner shipping business. Groups like Maersk and MSC have developed parallel vertical integration strategies through the acquisition, stake, or partnership with strategic terminals. Control, even if partial, over port facilities allows shipping companies to gain greater visibility over their calls, reorganize services more quickly, and better manage the effects of external incidents, from operational bottlenecks to geopolitical tensions that disrupt trade flows.
In recent months, ONE has reported several operations with that same focus. In December 2025, the shipping company announced the purchase of a minority stake in Dalian Container Terminal (DCT), one of the largest container terminals in northeast China. That facility has an annual capacity of 6.6 million TEU distributed over 14 berths and is prepared to receive large container ships. According to the company at that time, the operation was part of a strategy aimed at securing access to regional benchmark ports and collaborating more closely in infrastructure development and terminal management.
This move is complemented by the operation announced in early March 2026 to increase its stake in Poseidon Corp., the parent company of Seaspan Corporation. With this step, ONE approaches a position of control over the world's largest independent company dedicated to the ownership and management of container ships. Seaspan has a fleet of over 220 vessels and a total capacity of 2.4 million TEU, leased under long-term contracts to major shipping lines such as MSC, Maersk, CMA CGM, COSCO Shipping, Hapag-Lloyd, Evergreen Marine, and ONE itself. The Singaporean shipping company had already become a significant investor in this business in 2023 when a consortium led by Poseidon completed the delisting of Atlas Corp in a deal valued at approximately $10.9 billion.
The positioning in terminals and maritime assets coincides, however, with a market context less favorable than that recorded in previous years. Like other major shipping companies, ONE has suffered from falling freight rates, especially on the Asia-North America route, as well as the persistent imbalance between supply and demand. The company reported a net loss of $88 million in the third quarter of its fiscal year 2025. Quarterly revenues dropped to $4.07 billion, a 16% year-on-year decrease, equivalent to a reduction of $772 million. Meanwhile, the operating result EBIT turned negative with losses of $84 million, compared to a profit of $1.04 billion recorded in the same period of the 2024 fiscal year.
In that scenario, the entry into DGT can be interpreted as part of a strategy aimed at consolidating the shipping company's operational structure beyond the cyclical volatility of the market. Securing capacity in transshipment hubs like Busan allows shipping lines to better organize their rotations, reduce exposure to terminal restrictions, and have more tools to adjust their network to changes in demand or in international trade conditions.
The operation positions ONE with a more direct presence in a reference automated terminal in South Korea and confirms the continuity of an investment policy focused on infrastructures and assets linked to its global container transportation network.