CMA CGM has announced it reached a binding agreement with Maersk Line to acquire Mercosul Line, a leading player in Brazil’s domestic container shipping market. Earlier this year, Maersk Line declared the intention to sell its Brazilian cabotage carrier in order to remove any possible concerns from competition regulators over its acquisition of German shipping […]
Spain’s leading port operator Noatum Ports confirms the conclusion of a partnership agreement with Chinese COSCO Shipping Ports Limited (COSCO) for the transfer of 51% of Noatum Ports. The transaction will include the container terminals owned by Noatum in Valencia (Noatum Container Terminal Valencia) and Bilbao (Noatum Container Terminal Bilbao), as well as the dry […]
Today the official delegation from Hyundai Merchant Marine (HMM) has visited Algeciras and met the executives of the Port Authority of the Algeciras Bay (APBA). At the working meeting the parties have discussed the procedure of the acquisition of the semi-automated container terminal Total Terminal International Algeciras (TTI Algeciras) by the South Korean shipping company. […]
Summa Group, the major shareholder of FESCO Transportation Group, is reported to be in talks to sell a minority stake in FESCO to a consortium headed by DP World and the state-run Russian Direct Investment Fund (RDIF), informs Financial Times. The deal may amount to several hundred million dollars and include special corporate governance rights […]
The US Federal Maritime Commission (FMC) has rejected the merger of the three Japanese container shipping lines K Line, Mitsui O.S.K. and NYK on “jurisdictional grounds”, informs The Loadstar. The matter will now be referred to the US Department of Justice (DoJ), which could delay or halt the proposed joint-venture. As we wrote earlier, aiming […]
Hyundai Merchant Marine (HMM) has entered into a contract with Hanjin Shipping and Marine Terminals Investment Limited (MTIL) to acquire Hanjin Pacific Corporation’s 100% stake in terminals in Tokyo and Kaohsiung, announces the company’s press release. Hanjin Pacific Corporation (HPC) is owned by Hanjin Shipping (60%) and Marine Terminals Investment Limited (40%) and operates container terminals in […]
End of last week Terminal Investment Limited (TIL), a port operating subsidiary of MSC, confirmed the acquisition of Hanjin’s stake in Total Terminals International (TTI), a company which leases and operates container terminals in the ports of Long Beach and Seattle on the West Coast of the United States. The deal includes all of Hanjin’s […]
Hyundai Merchant Marine Co. (HMM), announced last Friday its decision to buy a 20% stake in Total Terminals International LLC (TTI), an operator of Long Beach Terminal, California, wrote Business Korea. This news immediately follows the U.S. Bankruptcy Court’s approval of Hanjin Shipping Co.’s sale of its 54% stake in TTI to Terminal Investment Limited […]
The global terminal developer and operator Hutchison Ports signed a Memorandum of Understanding (MOU) with Ukraine’s Sea Commercial Port Chernomorsk (formerly known as Ilyichevsk) on the Black Sea, as announced by the port’s press release. The document was signed during the visit of the Ukrainian Minister of Infrastructure Volodymyr Omelyan to the UK, in particular […]
South Korea’s Hyundai Merchant Marine Co. (HMM) has withdrawn from a joint bid with MSC for a controlling 54% stake in Total Terminals International LLC (TTI), an operator of Long Beach Terminal, California, writes The Wall Street Journal. In the beginning of December HMM and MSC formed a consortium to jointly acquire the stake in […]
