HONG Kong-based Hutchison Port Holdings (HPH) has taken control of Amsterdam-based Ceres Container Terminals Europe from Nippon Yusen Kabushiki Kaisha (NYK) in a share-swapping agreement. In exchange for the majority stake in CTE, NYK will have a minority stake in Europe Container Terminals (ECT) in Rotterdam.
Commenting on the agreement, John Meredith, group managing director of HPH, said, “The investment in CTE will help strengthen HPH’s presence in Northern Europe through the addition of extra container-handling capacity. CTE’s strategic location allows it to attract deep-sea and feeder traffic as well as inland traffic.”
NYK chairman Takao Kusakari said, “This agreement gives us the opportunity to enhance our cooperation with HPH while further tapping into HPH’s network of Northern European ports.”