German port and transport logistics company Hamburger Hafen und Logistik (HHLA) has entered into a contract to acquire Estonia’s biggest terminal operator Transiidikeskuse.
HHLA believes the deal will make it the market leader in container handing at the Port of Muuga, located close to the Estonian capital Tallinn.
The Port of Muuga is the main port in Estonia and an important maritime location in the Baltic region. The port is currently developing into a multimodal hub as a result of regional infrastructural projects including the Rail Baltica project.
The container terminal currently has a capacity of approximately 300,000 teu, which can be increased to around 800,000 teu. HHLA expects to leverage synergies by further professionalising sales and operations and integrating the port operator into the HHLA network.
“Estonia is one of the fastest-growing economies in Europe and a pioneer when it comes to digitisation. We are therefore pleased to be integrating Transiidikeskuse AS – already a profitable and high-performing company – into the HHLA family. One of HHLA’s targets is to grow internationally. The successful conclusion of this contract shows that we are doing just that. The acquisition enables us to enter a promising regional market that offers growth potential as a result of its geographic position and its link to the ‘New Silk Road’. As Hanseatic cities, Hamburg and Tallinn share a long history, to which HHLA is now adding a new chapter. At the same time, we will continue to enhance the Port of Hamburg by investing in facilities and technology. We are a Hamburg-based company, at home in Europe and operating globally,” said Angela Titzrath, chairwoman of HHLA’s executive board.