APM Terminals has acquired the Panama Canal Railway Company (PCRC) from Canadian Pacific Kansas City Limited and the Lanco Group/Mi-Jack, according to the company's release.
PCRC operates a 76-km (47-mile) single-line railway adjacent to the Panama Canal that primarily facilitates cargo movement between the Atlantic and Pacific Oceans. In 2024, PCRC recorded revenue of USD 77 million and USD 36 million in EBITDA.
Keith Svendsen, CEO of APM Terminals, stated, “The Panama Canal Railway Company represents an attractive infrastructure investment in the region aligned to our core services of intermodal container movement. The company is highly regarded for its operational excellence and will provide a significant opportunity for us to offer a broader range of services to the global shipping customers we serve.”
Keith Creel, President and Chief Executive Officer of CPKC, commented, “We are pleased to have completed this transaction with APM Terminals, a part of A.P. Moller - Maersk, a key strategic partner of CPKC’s and major customer of the Panama Canal Railway Company. The sale of this non-core asset creates value for our shareholders and reflects our commitment to optimize our assets as we focus on growing our core North American rail business through our unrivalled three-nation network connecting Canada, the United States and Mexico.”
APM Terminals is a global port and terminal operator headquartered in The Hague, Netherlands. It is an independent division of A.P. Moller - Maersk, a Danish conglomerate focused on shipping and logistics. The company manages a network of 60 terminals across 33 countries, providing services related to container handling, intermodal transport, and supply chain solutions. In the Americas, it operates 14 terminals in eight countries and employs approximately 33,000 people worldwide.
The Panama Canal Railway Company operates a 76-km (47-mile) railway running parallel to the Panama Canal, connecting the Atlantic and Pacific Oceans. Established in 1998 as a joint venture between Kansas City Southern (a subsidiary of Canadian Pacific Kansas City Limited) and the Lanco Group/Mi-Jack, PCRC facilitates freight and passenger services across the Isthmus of Panama. The railway was originally built in 1855 and revitalized in the early 2000s to support modern container traffic.
Canadian Pacific Kansas City Limited is a transnational railway company based in Calgary, Alberta, Canada. Formed by the merger of Canadian Pacific Railway and Kansas City Southern in 2023, CPKC operates a rail network spanning Canada, the United States, and Mexico. The company focuses on freight transportation, including bulk commodities, intermodal containers, and automotive goods, with direct access to major ports across North America.
The Lanco Group, often associated with Mi-Jack Products, is a U.S.-based company headquartered in Hazel Crest, Illinois. Mi-Jack specializes in manufacturing and servicing material handling equipment, notably rubber-tired gantry cranes used in port and intermodal operations. The Lanco Group partnered with Kansas City Southern in 1998 to form the Panama Canal Railway Company, contributing to its reconstruction and operation.
A.P. Moller - Maersk is a global shipping and logistics company based in Copenhagen, Denmark. Founded in 1904, it is one of the world’s largest container shipping operators, with a fleet of over 700 vessels. The company also encompasses various divisions, including APM Terminals, and provides integrated supply chain services across more than 130 countries. Maersk is a parent entity to APM Terminals, supporting its operations in the port and terminal sector.