COSCO Shipping Ports has completed the acquisition of a 12.5% equity stake in Thai Laem Chabang Terminal (TLT) and a 30% equity stake in Hutchison Laem Chabang Terminal (HLT) for a combined consideration of approximately $110 million, according to law firm HFW, which advised on the transaction.
The stakes were acquired from Hong Kong-based Hutchison Port Holdings, a leading global port operator.
TLT and HLT are the largest terminals at Thailand’s Laem Chabang Port, the country’s biggest and most strategic international container hub, handling nearly 80% of Thailand’s total container throughput. Laem Chabang ranks 20th in Lloyd’s List’s Top 100 Container Ports, with volumes rising 7.7% in 2024 to 9.6 million TEU.
Originally announced last year and completed last month, the deal marks another step in COSCO Shipping Ports’ expansion in Southeast Asia. HFW noted that the acquisition enhances COSCO’s ability to collaborate with global shipping lines in Thailand and across the wider region. It will also support the group’s ambition to expand integrated logistics services, including extended terminal and port logistics solutions.
The transaction was led by HFW shipping partner Henry Fung and corporate and commercial partner Wing Cheung, with support from consultant Roger Wong and associate Johnnie Ho. Senior associate Zoe Triantafyllou and trainee solicitor Michael Popp from HFW’s Singapore office attended the closing on behalf of COSCO.
The move comes amid growing competition among Chinese port operators in Southeast Asia. Rival China Merchants Port Holdings secured facilities in Indonesia and Thailand late last year, as both groups position themselves to capture rising demand across the region.