Evergreen Marine, the largest container cargo transportation company in Taiwan and number six in the world, has consolidated ownership of the Colon Container Terminal (CCT) in Panama, says Alphaliner.
According to a series of disclosures filed with the Taiwan Stock Exchange, the carrier spent a total of USD 268M to acquire a 100% stake in CCT.
Evergreen Marine, which already had indirect control over the terminal, bought the stakes of several group subsidiaries, including Evergreen Marine Hong Kong and Clove Holding, Alphaliner reports.
The consolidation of ownership at Evergreen Marine should, according to the carrier, help improve service integration at the facility, which is Evergreen’s main hub in Central America.
The Colon Container Terminal was inaugurated in 1996 and operates under concession until 2036. It has a berthing length of 1,200 m and a design capacity of 2.40 Mteu per year.
The main users of CCT are Evergreen and MSC, each representing an estimated traffic share of around 30%. The largest vessels handled at the facility are 14,000 teu vessels on the OCEAN Alliance ‘AWE2’ circuit and 12,000 teu vessels on the OCEAN Alliance ‘AWE4’ circuit, both operated with Evergreen tonnage.
The Evergreen CTT is one of three container terminals in the Atlantic terminal of the Panama Canal. It joins the Manzanillo International Terminal (MIT) of SSA Marine (Carrix) and the terminal operated by Hutchison-PPC in Cristóbal.
In addition to these three, MSC-controlled TIL and Notarc Management Group are developing a fourth facility, to be located in Colón, directly adjacent to CCT.