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COSCO Shipping Ports invested $110 million in two Thai container terminals
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The China-based company acquired 12.5% and 30% equity stakes in Thai Laemchabang Terminal and Hutchison Laemchabang Terminal, respectively
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The investment includes Berth A2 in TLT, and Berths A3, C1-C2, and D1-D3 in HLT
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Once all facilities are completed and operational, the total annual capacity will be in the vicinity of 6.7 million TEUs
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TLT and HLT are the largest terminal operators in the Laem Chabang Port, located southeast of Bangkok
COSCO Shipping Ports recently invested $110 million in two Thai container terminals.
The China-based company acquired 12.5% and 30% equity stakes in Thai Laemchabang Terminal (TLT) and Hutchison Laemchabang Terminal (HLT), respectively. The signing of the contract was held in Vietnam on October 23.
The investment includes Berth A2 in TLT, and Berths A3, C1-C2, and D1-D3 in HLT.
The twin acquisitions will help further develop trade and economic ties between China and Thailand, while also supporting COSCO Shipping Ports optimizing the layout of port resources and “deepen the synergies between port and shipping companies,” the company said in a statement.
Once all facilities are completed and operational, the total annual capacity will be in the vicinity of 6.7 million TEUs.
At present, the Laem Chabang Port is the main port of call for COSCO Shipping Lines’ dual brands in Thailand.
TLT and HLT are the largest terminal operators in the Laem Chabang Port, located southeast of Bangkok and some 60 nautical miles from the Port of Bangkok. It is the largest deep-water port in Thailand and serves as the country’s principal global container hub, accounting for roughly 80% of the country’s total throughput.
COSCO’s port operating arm said, “With the active support of the Thai government in the development of Laem Chabang Port, there will be continued development and expansion of infrastructure projects such as the Thailand Easter Economic Corridor.”
