HMM has sold CMA CGM a 50% stake minus one share in Total Terminal International Algeciras (TTI Algeciras), a container terminal with a 1.6m teu annual capacity in the south of Spain.
The financial details have not been disclosed between the two liners.
An HMM official commented, “TTI Algeciras has a great geographical advantage to play an integral role as a transhipment hub located at the centre of containerised cargo flow on the main tradelanes.”
TTI Algeciras was formerly operated by Hanjin Shipping but HMM acquired a 100% stake in the terminal in 2017 as compatriot Hanjin went bust.
Source: Splash247
