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CMA CGM buys into HMM’s Algeciras terminal

Photo of Sam Chambers Sam ChambersAugust 10, 2020
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TTI Algeciras

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.

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Photo of Sam Chambers Sam ChambersAugust 10, 2020
1 2,696 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Comments

  1. This has been made out of the profit gained against container detention charges at the current pandemic situation.
    CONGRATULATIONS TO CMA CGM FOR MAKING PROFIT FROM POOR CUSTOMERS.

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