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

Contracts

SHIPPINGInsight to Focus on Ship Telematics

The subject of ship telematics will be prominently featured at the upcoming SHIPPINGInsight 2015 Fleet Optimization Conference & Exhibition, which takes place in Stamford, Conn.

Euronav Acquires $ 750 mi Facility

The Executive Committee of Euronav NV today announced that it has signed a new USD 750 million senior secured amortizing revolving credit facility led by DNB

TEN Charters Tanker at 20% Premium

Tsakos Energy Navigation Limited announces two-year charter renewal at a 20 percent premium to prior contract reflecting strong tanker market fundamental, oil price

Ports

Runaway Crane Barge Sinks on the Mississippi

The U.S. Coast Guard is working with a team of responders to recover a runaway crane barge that sunk near Convent on the Mississippi River.   The crane barge

Nigeria Ramps up Push to Eradicate Oil Theft

Nigerian authorities hope to put an end to rampant oil theft in eight months by increasing drone and naval monitoring of territorial waters and working with local communities,

MN: Foss Maritime Company

The Company: Foss Maritime Company is wholly owned by Saltchuk Resources, a privately owned family investment company formed in 1982 and based in the Pacific Northwest.

Finance

SHIPPINGInsight to Focus on Ship Telematics

The subject of ship telematics will be prominently featured at the upcoming SHIPPINGInsight 2015 Fleet Optimization Conference & Exhibition, which takes place in Stamford, Conn.

Euronav Acquires $ 750 mi Facility

The Executive Committee of Euronav NV today announced that it has signed a new USD 750 million senior secured amortizing revolving credit facility led by DNB

Russian JV Close Acquisition of Prime Shipping

The Russian Joint Venture between Rosneft, Sberbank Investments and Pietro Barbaro S.p.A. closed the acquisition of the Pietro Barbaro Group shipping assets

Logistics

MN: Foss Maritime Company

The Company: Foss Maritime Company is wholly owned by Saltchuk Resources, a privately owned family investment company formed in 1982 and based in the Pacific Northwest.

LNG-fueled Box Ship a 'Momentous Step Forward'

On Saturday, August 29, 2015, the world’s first series of energy efficient containerships welcomed its second LNG-powered vessel in San Diego, fueling the U.S.

Fleet Growth Weighs on Product Tanker Earnings

Healthy returns enjoyed by the product tanker market in recent years are under threat as impending fleet growth is expected to reduce the sector’s earnings over the medium term,

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.3349 sec (3 req/sec)