4 ZPMC STS cranes head for Baltic Hub as T3 project kicks into high gear
NewsFour ZPMC STS cranes are en route to Baltic Hub as construction of Project T3 ramps up.
PSA acquires HIT stake
In a surprise move, Hutchison Whampoa Ltd (HWL) has announced that it has agreed to sell 20 per cent and 10 per cent effective equity in Hongkong International Terminals (HIT) and COSCO-HIT respectively to PortCapital Ltd, an investment holding company backed by rival terminal operator PSA International, for a cash consideration of US$925 mill.
Commenting on the transaction, HWL Group managing director Canning Fok said, “The terms of this transaction are fair and reasonable and are in the interests of the company and its shareholders as a whole. We are happy that this transaction will create a strong alliance in the Group’s port operations, and will put us in a position to have strategic co-operation resulting in further value creation for all parties.”
You just read one of our articles for free
To continue reading, subscribe to WorldCargo News
By subscribing you will have:
- Access to all regular and exclusive content
- Discount on selected events
- Full access to the entire digital archive
- 10x per year Digital Magazine