Hapag-Lloyd’s port business, Hanseatic Global Terminals (HGT), has acquired a 60% share in CNMP LH, which operates the Atlantique terminal at the French gateway of Le Havre.
Crucially, the terminal is host to the one Gemini service that partners Maersk and Hapag-Lloyd put into Le Havre, the Europe Shuttle 6, which deploys one 2,750 teu vessel in a Rotterdam-Antwerp-Le Havre-Rotterdam string.
“By acquiring a majority stake in the CNMP LH terminal in Le Havre, we are strengthening our position in one of our core European markets,” said Dheeraj Bhatia, HGT CEO.
“At the same time, we are continuing to expand our global terminal portfolio while paving the way for targeted investments to enhance efficiency,” he added.
The remaining 40% stake will be held by reefer specialist Seafrigo Group.
“We will continue to modernise the CNMP LH terminal in Le Havre,” said Eric Barbé, Seafrigo’s group president.
“This will significantly raise the profile of our joint terminal as an important gateway for container transports in the port of Le Havre,” he added.
HGT said it expected throughput at CNMP LH to increase, particularly with regard to reefer trades. As a whole, Le Havre has an annual throughput of around 3m teu.
HAROPA, the statutory authority that runs the ports of Le Havre, Rouen, and Paris, said it was “delighted” with the investment.
HGT was officially formed in 2023 as part of Hapag-Lloyd’s expansion strategy to consolidate its nascent terminal portfolio. It aims to operate 30 terminals by 2030.
The move also marks the latest development in a vertical integration race among carriers. It follows the acquisition of 80% of Hutchison by a consortium of MSC and US investment giant BlackRock last week.
On Friday, Eirik Hooper, Drewry Ports & Terminals senior analyst, compared MSC’s latest move with its acquisition of Bolloré Africa Logistics, commenting that terminal acquisitions are emerging as a key growth area for container operators.
“Targeted M&A can achieve buyer market share that would take decades to achieve organically,” he said. “As MSC’s liner service is already calling at these ports, this gives further justification for the deal, as it ensures that more expenditure on terminal handling is retained in-house – and it retains an element of operational control.”
Late last year, CMA CGM snapped up a 47.55% stake in Santos Brasil, one of Latin America’s largest ports, the approval process for which is “still ongoing,” a CMA CGM representative said.
