China Merchants Holdings Complete Terminal Link Deal

Press Release
Thursday, June 13, 2013
Closing Ceremony: Photo credit China Merchants

China Merchants Holdings (International) announce completed acquisition of a 49% stake in container port operators Terminal Link from CMA CGM.

Farid Salem, CMA CGM's Executive Officer, said: "CMA CGM is very pleased to enter a new strategic partnership with CMHI which will allow us to join our complementary forces to operate and further develop in Terminals investments."

"The smooth completion of this transaction,"China Merchants Group Assistant President & CMHI Managing Director Dr Hu Jianhua indicates," reflects the recognition and consent to the transaction from the governments from whose regulatory units consents and approvals were obtained. The process to seek approvals and consents has also helped to anchor Terminal Link's platform through which to further develop its ports businesses in these areas."

"The smooth completion of this transaction,"China Merchants Group Assistant President & CMHI Managing Director Dr Hu Jianhua indicates, "reflects the recognition and consent to the transaction from the governments from whose regulatory units consents and approvals were obtained. The process to seek approvals and consents has also helped to anchor Terminal Link's platform through which to further develop its ports businesses in these areas."

The complexity of obatining pernissions is indicated below: Terminal Link owns 15 container terminals in 8 countries across four major continents, viz:

- Container Handling Zeebrugge at Zeebrugge (Belgium); 

- Antwerp Gateway at Antwerp (Belgium);
- Terminal des Flandres at Dunkirk (France) ;
- Terminal de France and Terminal Nord at Le Havre (France);
- Terminal du Grand Ouest at Montoir (France) ;
- Eurofos at Fos (France) ;
- Somaport at Casablanca (Morocco);
- Eurogate Tanger at Tangiers (Morocco) ;

- Malta Freeport Terminal at Marsaxlokk (Malta); 

- Terra Abidjan at Abidjan (Ivory Coast); 

- Houston Terminal Link Texas at Houston (the United States) ;

- South Florida Container Terminal at Miami (the United States) ;

- Busan New Container Terminal at Busan (South Korea) ;
- Haicang Xinhaida Container Terminal at Xiamen (the PRC).

In the picture from left to right : CMHI Executive Director of International Development Jared H. Zerbe, CMA CGM Executive Officer Farid Salem, China Merchants Group Vice President Raymond Yu, CMHI Deputy General Manager & CFO Zhang Rizhong
 

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Bids Placed for Novy Port Icebreaker Contract

Seven companies submit bids for contract for Yamal Novy Port terminal icebreaker   The tendering process for the Yamal Novy Port terminal icebreaker design and build contract has kicked off,

Alewijnse Success at Damen Shiprepair Dunkerque

Electrical system integrator Alewijnse Marine Systems is celebrating the first anniversary of delivering electrical services and maintenance to vessels at Damen Shiprepair Dunkerque.

GE Gas Turbine to Power USCG Cutter

GE LM2500 gas turbine to power United States Coast Guard‘s eighth National Security Cutter   GE Marine reports that its LM2500 gas turbine will power the United

Ports

Duke Energy to Help Develop Jeffersonville Port Site

Duke Energy Indiana has selected a 140-acre parcel of land inside the Port of Indiana-Jeffersonville in Clark County for the utility's 2015 Site Readiness Program.

Savannah Harbor Expansion Project Update

Lt. Gen. Thomas Bostick, commander of the U.S. Army Corps of Engineers, visited the Port of Savannah on Thursday, for an update on the Savannah Harbor Expansion Project (SHEP).

Israeli Dockworkers End Ports Strike

Israeli dockworkers ended a two-day strike on Thursday that had shut down the country's two main seaports in protest at the creation of new foreign-run ports.   Some 2,

Finance

Lifting of US Crude Oil Export Ban Possible within Year

The U.S. Congress could lift the 40-year old ban on domestic crude oil exports within a year as a drop in gasoline prices and the potential return of Iranian

U.S.: Stronger Response in South China Sea Needed

By releasing video of Beijing's island reclamation work and considering more assertive maritime actions, the United States is signaling a tougher stance over the

Aramco Offers Rare 1.5 pct Gasoil Cargo

Aramco Trading, the trading arm of oil producer Saudi Aramco, has offered a rare gasoil cargo with a 1.5 percent sulphur content for June lifting from Rabigh, traders said on Thursday.

Logistics

Savannah Harbor Expansion Project Update

Lt. Gen. Thomas Bostick, commander of the U.S. Army Corps of Engineers, visited the Port of Savannah on Thursday, for an update on the Savannah Harbor Expansion Project (SHEP).

Israeli Dockworkers End Ports Strike

Israeli dockworkers ended a two-day strike on Thursday that had shut down the country's two main seaports in protest at the creation of new foreign-run ports.   Some 2,

Q88 LLC Opens Office in London

Q88 LLC has opened a new office in London. Located in Soho, the cultural center of London's West End district, the office will serve as a hub for business development and client relations.

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1526 sec (7 req/sec)