More M&A in forwarding likely, as major players feel the need to 'keep up'
And so the forwarding consolidation chat continues. On Loadstar Premium today, we reveal speculation that CMA CGM, new proud owner of Ceva, is in ...
Italian terminal operator Contship Italia and MSC’s terminal operating arm, TIL [Terminal Investment Ltd], have come to an agreement for the sale of 50% of Medcenter Container Terminal in Gioia Tauro.
The two companies said the terms remained undisclosed and the sale “subject to regulatory approvals”.
A joint statement added: “At closing, TIL will own 100% of CSM Italia Gate and will indirectly control all the shares of MCT.
“Contship Italia expresses its gratitude to all MCT employees, customers, suppliers and partners, including TIL, who supported the container terminal activities in Gioia Tauro, whose operations were started by Contship 24 years ago.
“TIL is grateful to Contship Italia for the excellent cooperation over many years and during the negotiations leading to the execution of the share purchase agreement.”
MSC has been the terminal’s only major customer for several years now and, as reported in The Loadstar last month, the sale of Medcenter to the Geneva-headquartered line spells the end of common-user transhipment activities in the Mediterranean region.