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Home Industry

CMA CGM buys into HMM’s Algeciras terminal

22/08/2020
in Industry
CMA CGM mua lại bãi container Algeciras của HMM
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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
Tags: Algeciras terminalCMA CGMfeaturedHMMM&A
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