July 31 - Ports America is to purchase a 30 percent stake in International Transportation Service (ITS) through a strategic partnership with "K" Line (Kawasaki Kisen Kaisha).
Ports America provides stevedoring services to "K" Line in Oakland for containerships and in Jacksonville, Newark, Brunswick and Charleston for car carriers.
ITS is a wholly-owned subsidiary of "K" Line that has operated container terminals in Long Beach and Tacoma for more than 40 years.
Date of the transfer will occur after regulatory approvals, which are expected in late August of this year.
After receiving approval, the two companies will work together, introducing and utilising Ports America's expertise and technology and safety programmes in ITS' gate, yard and vessel operations.
