MSC container ship first to use Barcelona’s onshore power
NewsThe Port of Barcelona connects the first ship to the BEST terminal’s OPS system.
Evergreen buys stake in Egypt’s Abu Qir Container Terminal
Taipei-based Evergreen Marine Corp has spent approximately US$46M on buying a 20% stake in Abu Qir Container Terminal Company SAE (AQCT). AQCT is developing and will operate a new container handling facility within the Abu Qir Naval Base, which is located about 20 km east of Alexandria
The project, entailing an investment of over US$730M, was launched in 2019 by Hutchison Ports and the Egyptian Navy. With a capacity to handle up to 2M TEU a year, it will feature a 1,200m-long quay with a draught alongside of 18m, and a 60-ha yard. AQCT has a 38-year operating concession for the facility with the Egyptian Government.
Evergreen’s decision to invest is a strategic one, in that several of its main competitors already have ownership stakes and/or very close working arrangements with terminal operating companies in Egypt – and Evergreen wants to be in a similar position. In addition, Evergreen is keen to expand its operating presence in the eastern Mediterranean region, and using a port in Egypt to tranship cargo is viewed as a cost-effective way of serving the area.
In other moves, Evergreen has spent US$268M to obtain full control of Colon Container Terminal, which is located on the Caribbean coastline of Panama and adjacent to the Panama Canal. This will help strengthen the Taiwanese carrier’s operating presence in Central and South America.
Read this item in full
This complete item is approximately 210 words in length, and appeared in the December 2022 issue of WorldCargo News, on page 4. To access this issue download the PDF here
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