For $110 million, COSCO Shipping Ports has acquired shares in two container terminals at Thailand’s biggest port, Laem Chabang.
Through the agreement, Cosco Shipping Ports purchased 12.5% and 30% of the shares in the Hutchison Port Group-controlled Thai Laemchabang Terminal (TLT) and Hutchison Laemchabang Terminal (HLT), respectively.
It includes Berths A3, C1-C2, and D1-D3 in HLT (the latter is still being built) as well as Berth A2 in TLT. It is anticipated that the overall capacity will reach roughly 6.7 million twenty-foot equivalent (TEU) per year once it is fully operating.
The two biggest terminal operators at Laem Chabang Port, southeast of Bangkok, which handles around 80% of Thailand’s total traffic, are TLT and HLT.
With initiatives like the Thailand Eastern Economic Corridor, the Thai government actively supports the port’s growth and guarantees continuous infrastructural development.
Given that Laem Chabang Port serves as the main port of call for Cosco Shipping Ports’ two brands in Thailand, this acquisition is essential for the company.
