The two companies have described the move as being “a highly beneficial strategic partnership” for both parties in operating and developing container terminals globally.
Terminal Link operates, develops and invests in a network of 15 terminals located on the world’s key international shipping routes; the operator ranks 12 in the world based on throughput handled, with a volume of 8.1m teu handled in 2011. Its parent company, CMA CGM Group Based in Marseilles, France, is the world’s third largest container shipping company.
CMHI is the largest public port operator in China that has invested in and operates eight port businesses in the cities of Shenzhen, Hong Kong, Shanghai, Ningbo, Qingdao, Tianjin, Xiamen and Zhanjiang. In recent years it has added assets in Sri Lanka and in Africa to its port portfolio. In 2012 it handled a total in excess of 60m teu.
In a statement the company said that investing in Terminal Link represents a significant step towards, further internationalising its ports business.
Jacques Saadé, CMA CGM’s Chairman and CEO, said, “CMA CGM is very confident about this partnership with CMHI, which represents a unique opportunity to accelerate the Group development into terminals investments internationally”.
For CMHI, its Chairman, Dr. Fu Yuning, added that the transaction was consistent with CMHI\’s strategy and marks a significant step towards expanding the company’s international footprint.
“Terminal Link’s strategic relationship with CMA CGM will help to ensure the long-term sustainability of its operations. Besides, Terminal Link\’s exposure to terminals in emerging markets and its potential pipeline of new projects present another driver for its volume growth and financial returns in the future,” he said.