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Hapag-Lloyd acquires stake in Tangier terminal as strategic container hub

GERMAN shipping giant Hapag-Lloyd has purchased of a 10 per cent stake in Container Terminal 3 (TC3) of the Tangier Med 2 as part of its intensification of African activity

08 December 2019 - 19:00

GERMAN shipping giant Hapag-Lloyd has purchased of a 10 per cent stake in Container Terminal 3 (TC3) of the Tangier Med 2 as part of its intensification of African activity.

Hapag-Lloyd feels that the port on the southern coastline of the Strait of Gibraltar is a strategic hub for global container traffic, reports Hellenic Shipping News Worldwide.



Hapag-Lloyd's minority stake in the TC3 terminal will now help to link the attractive African markets and the entire Mediterranean even more closely with the liner shipping company's global network of services.



By acquiring a stake in the terminal, the company is ensuring that it will enjoy the necessary capacities, said the company.



Once it is fully operational, which is expected to happen in mid-2020, the terminal will have an annual capacity of 1.5 million TEU. Other principal shareholders are the Moroccan port operator Marsa Maroc (50 per cent plus one share) as well as Contship Italia and Eurogate (together 40 per cent minus one share).


WORLD SHIPPING

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