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

Contracts

USACE Barges, Tugs Up for Repair

The United States Army Corps of Engineers (USACE) Buffalo District has awarded a repair contract to Great Lakes Shipyard for two tugs and two barges from the Corps’ Cleveland Field Station.

DSME Building 5 Icebreaking LNGCs for Yamal

Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) is building five large Arctic Liquefied Natural Gas Carriers (LNGCs), for which it has LNG ordered

NewLead Holdings Acquire 5 Vessels

NewLead Holdings Ltd. announced today that it recently added five bitumen tanker vessels to its fleet. The Company has expanded its fleet to 10 vessels in less

Ports

Puget Sound Container Volumes Flat in 2014

Container volumes through Puget Sound’s largest container ports remained flat in 2014, according to numbers released jointly for the first time by the ports of Seattle and Tacoma.

New Berthing System for Mooring Cargo Ships

Eagle Rock Aggregates, U.S. subsidiary of Polaris Materials Corporation, has completed a new aggregate import facility at the Port of Long Beach that features a

Damen Delivers Workboat to Multraship

Towage and salvage operator Multraship has taken delivery of the first of two customized Damen Stan Launch 804s vessels for its line handling and boatmen service companies in Terneuzen,

Finance

Denmark's Budget Gap May Flirt with EU Limit if Oil Stays at $50

Denmark's government estimates its budget would lose 7.5 billion Danish crowns ($1.1 billion) if oil prices remained around $50 a barrel, according to a document

Sweden-Poland Maritime Link Improved

The EU's TEN-T Program will co-fund with over €2 million the development of the sea ports of Trelleborg (Sweden) and Świnoujście (Poland), to increase their competitiveness and sustainability,

West Coast Port Talks Clear Hurdle

Shipping companies and the union for 20,000 dockworkers at nearly 30 U.S. West Coast ports have cleared a major hurdle in their protracted labor talks, clinching

Logistics

Puget Sound Container Volumes Flat in 2014

Container volumes through Puget Sound’s largest container ports remained flat in 2014, according to numbers released jointly for the first time by the ports of Seattle and Tacoma.

AAL Launches New Operation in Japan

AAL has announced the launch of a new operation in Japan AAL said the move aims to provide services and on-ground operational support directly to customers in the country,

Port of Redwood City Sees Cargo Increase

The Port of Redwood City experienced a five percent increase in cargo movement across its docks for the first half of fiscal year 2014/2015 that ended December 31, 2015.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Salvage Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1645 sec (6 req/sec)