Hapag-Lloyd buys 10pc stake in Moroccan terminal
GERMAN shipping giant Hapag-Lloyd has intensified its activities in Africa with the purchase of a 10 per cent stake in Container Terminal 3 (TC3) of the Tangier Med 2 port in Morocco
10 December 2019 - 19:00
The port on the southern coastline of the Strait of Gibraltar offers excellent conditions and is now regarded as a strategically important hub for global container traffic, reports Hellenic Shipping News.
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.
Once it is fully operational, which is expected to happen in mid-2020, the terminal will have an annual capacity of roughly 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).
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