HGT (Hanseatic Global Terminals), a wholly owned subsidiary of the German maritime and container shipping company Hapag-Lloyd, has signed an agreement to acquire 50% of the shares of Imetame Log\u00edstica Porto, a joint venture focused on container terminal operations at a new port in the state of Esp\u00edrito Santo, the company said on Tuesday (23).<\/p>\n
Under the agreement, HGT and the Imetame Group will develop and operate the new terminal located in Aracruz. Among the sectors watching the new port closely is coffee\u2014Esp\u00edrito Santo is Brazil\u2019s largest producer of conilon (robusta) coffee beans.<\/p>\n
The facility is expected to begin operations by mid-2028, with a projected annual capacity of around 1.2 million TEUs and 750 meters of quay.<\/p>\n
\u201cLatin America is a strategic market for Hanseatic Global Terminals and Hapag-Lloyd,\u201d said Dheeraj Bhatia, CEO of HGT, in a statement.<\/p>\n
With a planned depth of 17 meters, the terminal will accommodate large vessels.<\/p>\n
According to Etore Selvatici Cavallieri, president of the Imetame Group, the project represents an opportunity to create opportunities for the region, boost job creation, and foster the development of local companies.<\/p>\n
\u201cWe are very pleased to have Hanseatic Global Terminals as a strong strategic partner for the new container terminal in Esp\u00edrito Santo. Hanseatic Global Terminals has extensive expertise to offer customers, importers, and exporters of the new terminal efficient cargo handling and to strengthen Brazil\u2019s importance in global trade further,\u201d he said in a statement.<\/p>\n
The value of the transaction between HGT and the Imetame Group was not disclosed.<\/p>\n
Completion of the deal is subject to approval by antitrust authorities and relevant regulators, as well as other customary conditions for transactions of this nature.<\/p>\n
Source: CNN<\/a><\/p>\n