News / Hapag-Lloyd port arm gains full control of Florida International Terminal

Photo: Hanseatic Global Terminals

Hapag-Lloyd’s port operating subsidiary, Hanseatic Global Terminals, has moved to acquire full ownership of the Florida International Terminals (FIT) facility in Port Everglades.

Hapag-Lloyd acquired a 70% holding in FIT via its $1bn purchase of Chilean stevedore SAAM in late 2022, and last week advised it had acquired the remaining 30% from the terminal’s minority shareholder, Grupo Empresas Navieras (GEN) and its local affiliate Agunsa USA.

“Agunsa USA consolidates GEN’s port, logistics, and towage operations. Following this transaction, Hanseatic Global Terminals will become the sole owner of FIT,” said Hanseatic Global Terminals.

“FIT is strategically located in Port Everglades, South Florida, serving one of the largest consumer markets globally.

“The terminal specialises in container and general cargo handling and provides direct connectivity to major highways and rail networks, ensuring efficient inland and intermodal transportation and access to the region’s hinterland,” it added.

Shortly after the SAAM purchase, a Loadstar Premium analysis argued that Hapag-Lloyd would look to “leverage some its new toys from the SAAM acquisition, and in particular plough some serious investment into FIT in Port Everglades where, according to the eeSea liner database, it already has three services calling, including one THE Alliance transatlantic string. FIT has the location, Hapag – possibly with its THE Alliance partners – could bring the volume”.

Although that was written before the split of THE Alliance and subsequent creation of Hapag-Lloyd’s Gemini Cooperation with Maersk, the base case for employing FIT as a transhipment point for Latin America and the Caribbean remains.

Xeneta’s eeSea liner database shows the terminal services four joint Hapag-Lloyd and Maersk services, although they are currently outside the main Gemini network: the transatlantic CES/TA5 and TEX/TA10 services, with Zim as a slot charter on the latter; the North America-east coast South America SEC/Tango services; and the North America USW/AGAS feeder service.

However, Hapag-Lloyd notified customers last year that the CES service would ‘come to an end shortly’, to be “replaced with a mixture of new and existing services” – it remains to be seen how it will adjust its network accordingly.

FIT also receives a call on the joint Maersk-MSC SAE/Florida to Central America inter-regional services, as well as the North America-west coast South America AMERXL/NEWS/FLX service, jointly operated by CMA CGM, Cosco and ONE.

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