Hapag-Lloyd acquires stake in Moroccan terminal
For some time now, Hapag-Lloyd has been intensifying its activities in Africa. The purchase of a 10 percent stake in Container Terminal 3 (TC3) of the Tangier Med 2 port in Morocco marks yet another important step towards assuming an even more prominent role in the development of this attractive growth market, the company said in its release.
The port on the southern coastline of the Strait of Gibraltar offers excellent conditions for doing so, as it is now regarded as a strategically important hub for global container traffic. Hapag-Lloyd’s minority stake in the TC3 terminal will now help to link the attractive African markets and the entire Mediterranean even more closely with the liner shipping company’s global network of services.
Once it is fully operational, which is expected to happen in mid-2020, the terminal will have an annual capacity of roughly 1.5 million TEU. Other principal shareholders are the Moroccan port operator Marsa Maroc (50% plus one share) as well as Contship Italia and Eurogate (together 40% minus one share).