Ports America buys stake in Yang Ming terminal
Ports America International Holdings Cooperatief, an affiliate of Ports America Group, will buy a 10% stake in Yang Ming Marine Transport Corp's 100% owned Kao Ming Container Terminal Corp (KMCT) in Taiwan's Kaohsiung port, Seatrade Asia online reports.
KMCT started operation in January 2011 and handled 1.08m teu in its first year of operation.
Ports America has had close working relationship with Taiwanese container line Yang Ming for many years. Ports America is one of the joint venture partners in Yang Ming's West Basin Container Terminal in Los Angeles and is the stevedore operator at the Yang Ming-owned terminal in Tacoma.