Ports America is purchasing a 30-percent stake in International Transportation Service Inc., a terminal operating division of Japan's Kawasaki Kisen Kaisha, Ltd. ("K" Line) in Long Beach, Calif.
The deal, expected to close in late August, comes by way of a strategic partnership between Ports America and “K” Line. Ports America provides stevedoring services to the carrier at the Port of Oakland for containerships, and in Jacksonville, Fla.; Newark, N.J.; Brunswick, Ga. and Charleston, S.C. for car carriers. The two companies said they would draw on Ports America’s technology and safety programs in ITS’s gate, yard and vessel operations. Ports America currently operates in more than 42 ports and 80 locations, handling all types of cargo.