AmericasPorts and Logistics

Ports America reportedly up for sale

Bloomberg is reporting that Ports America is looking at selling up for as much as $1bn. The firm is owned by private equity company Highstar Capital. Bloomberg stated investment bank RBC Capital Markets has been tapped to find a buyer.

Highstar was bought out by Oaktree two years ago.

In January Ports America quit its terminal in Oakland. It remains the largest terminal operator and stevedore in the United States, operating in more than 42 ports and 80 locations.

Spokesmen for Ports America and Highstar declined to comment.

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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.
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