• 2020 August 10 17:20

    HMM joins forces with CMA CGM on TTI Algeciras operation

    HMM announced that the company has signed a sales and purchase agreement with CMA CGM for the sale of its 50% stake minus one share in Total Terminal International Algeciras (TTI Algeciras), a container terminal in the south of Spain.  

    Shares of TTI Algeciras are owned by HMM and HT Algeciras which is a special purpose company wholly con- trolled by HMM. HMM directly owns a stake of 50% minus one share, with the remaining 50% stake plus one share held by HT Algeciras, Hyundai Merchant Marine said in its release.

    HMM has decided to sell its own 50% stake minus one share but still maintains its position as the largest shareholder through HT Algeciras.   The financial details including the price of the deal were not disclosed.   HMM expects a great synergy effect based on strategic cooperation with CMA CGM in terms of enhancing profitability and operational capabilities by securing additional cargoes.  

    HMM official said, “TTI Algeciras has a great geographical advantage to play an integral role as a trans- shipment hub located at the centre of containerised cargo flow on main trade lanes. We believe TTI Algeciras will take centre stage in the Gibraltar area as it has a high potential for future growth and development. We are expecting more business opportunities in the years to come based on stable operations of the terminal.”  

    This transaction, subject to regulatory approval, is expected to be completed in Q4 2020 for joint operations to be started.   Meanwhile, TTI Algeciras was formerly operated by Hanjin Shipping but HMM acquired a 100% stake in the terminal in 2017.    

    About TTI Algeciras (Total Terminal International Algeciras):

    TTI Algeciras, located in the south of Spain, a strategic point in the Strait of Gibraltar, is the first semi-automatic terminal in southern Europe and the Mediterranean area. TTI Algeciras counts with a total area of 357,740 square metres and initiated its oper- ation on May 2010, with a maximum handling capacity of 1.6 million TEUs. The terminal can accommodate the latest and future generations of ULCVs (Ultra Large Container Vessels) with an equipment of 8 ship to shore cranes, 32 automatic stacking cranes and 21 shuttle carriers.




2020 September 28

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18:27 Bumi Armada secures third FPSO project in India
18:07 Wilhelmsen and thyssenkrupp step-up collaboration, establishing 3D printing joint venture targeting the maritime industry
17:59 RF Government to allocate RUB 27.6 billion for construction of two scientific research ships
17:28 Port of Long Beach announces closure of traffic routes leading to the Gerald Desmond Bridge
17:05 Maersk Supply Service and Ørsted to test offshore charging buoy to reduce vessel emissions
17:02 Oboronlogistics completed Northern Delivery programme of 2020
16:56 UTLC ERA JLC and Belintertrans-Germany GmbH open joint end-to-end regular multimodal service from China to Western Europe
16:37 Atommash shipped Reactor Pressure Vessel for Turkey's first nuclear power plant
16:14 The digital transformation is accelerating, and insurers and underwriters must adapt, says IUMI
15:51 Ships of RF Navy's Black Sea Fleet returned to their permanent locations after "Kavkaz-2020" maneuvers
15:29 New railway bridge over Kolar river put into operation in Murmansk Region
15:13 BIMCO to push for international guidelines for ship/shore communication at IMO
14:12 Submersible robot buries power cables for offshore wind farms 5.5 metres below seabed to the north of Maasvlakte
13:53 Moscow Exchange registered debut bond issue by FSUE "Rosmorport"
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13:12 Busan Port Authority concludes an agreement to establish a smart maintenance system for port facility
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2020 September 27

16:43 Milaha signs key deal with major oilfield services firm
15:31 RINA and SDARI: an innovative step towards 3D ship classification
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2020 September 26

15:52 Port Freeport enters partnership with CEMEX Servicios Logisticos and Union Pacific Railroad
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11:02 IUMI: Loss prevention remains a vital element in ensuring the insurability of maritime risk
10:53 Huntington Ingalls Industries breaks ground on unmanned systems center of excellence

2020 September 25

18:07 Tripartite agreement signed on establishing the FSRU terminal in the Bay of Gdansk
17:55 Baltic Fuel Company shipped first batch of bitumen
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16:19 OOCL's service update for Trans-Pacific trade
16:16 Representative office of Marinet opened in China
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