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CMA CGM buying TTI Algeciras stake from HMMCMA CGM buying TTI Algeciras stake from HMM

HMM is selling a 50% minus one share stake in Total Terminal International Algeciras (TTI Algeciras) to French container line CMA CGM.

Marcus Hand, Editor

August 10, 2020

1 Min Read
Photo Terminal Operation TTI Algeciras
Photo: HMM

Following HMM’s sale of the 50% minus one share stake to CMA CGM the South Korea line will maintain a majority stake in TTI Algeciras through a 50% plus one share stake held by HT Algeciras.

HMM said it expected to the deal to enhance profitability and operational capabilities of the terminal in Southern Spain by securing additional cargoes.

Financial details of the sale were not disclosed and is expected to be completed in Q4 2020 subject to regulatory approvals.

An HMM official said: “TTI Algeciras has a great geographical advantage to play an integral role as a transhipment 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.”

TTI Algeciras was previously operated by Hanjin Shipping, prior to its bankruptcy, and was 100% acquired by HMM in 2017.

(Graphic) Location of TTI Algeciras.jpg

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CMA CGM

About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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