German shipping major Hapag-Lloyd has revealed its plans to invest in one of the largest ports in Germany, JadeWeserPort Wilhelmshaven.
As informed, the shipowner decided to acquire a 30% stake in Container Terminal Wilhelmshaven (CTW) and 50% of the shares of Rail Terminal Wilhelmshaven (RTW).
Container Terminal Wilhelmshaven, Germany’s only deep-water container terminal, is operated by Europe’s container terminal operator Eurogate. The company will continue to hold the remaining shares, according to Hapag-Lloyd.
Eurogate Group is currently involved in two joint ventures, including NTB North Sea Terminal Bremerhaven, which is a joint venture with APM Terminals, a company of Danish shipping giant A. P. Moeller-Maersk.
MSC Gate, situated at the Southern part of Bremerhaven container terminal, is a joint venture of Eurogate and TIL Terminal Investment Limited, an investment company of Mediterranean Shipping Company (MSC).
The parties did not disclose the purchase price of the investment. The purchase is expected to be completed in the next few months.
JadeWeserPort Wilhelmshaven is a deep-water container port located at the German Bight in Wilhelmshaven on the North Sea Coast of Germany. The construction of the port started in 2008, while the commissioning took place in 2012.
During its construction, it was the largest harbour project in Germany, and one of the largest infrastructure projects to be undertaken in the past fifty years in the country.
The investment comes two months after Hapag-Lloyd revealed that it has completed the acquisition of Dutch container shipping specialist Nile Dutch Investments B.V. (NileDutch). Depending on market conditions, Hapag-Lloyd and NileDutch are aiming to integrate major parts of their businesses already in the later part of 2021.