Carrier Acquires Chile Port Operator SAAM
Hapag Lloyd have recently made its first investment in Latin America, through the $1 billion acquisition of the SM SAAM S.A. marine terminal and logistics businesses. The German ocean carrier has acquired all of their shares in 10 terminals, as well as bonded warehouses and logistics operations.
The deal covers 4,000 staff in 10 terminals that handled a combined 3.5m teu last year. This includes Iquique, Antofagasta, San Antonio, San Vicente and Corral in Chile, the Florida International terminal in Port Everglades, along with port terminals in Mexico, Colombia, Costa Rica and Ecuador.
Tim Seifert, Hapag-Lloyd’s director of corporate communications, told American Shipper. “Trade lanes from and to Latin America are expected to further increase in attractiveness, for example due to e-commerce demand from Asia or the export of perishable goods to Asia. With growing import and export growth rates in the region, terminal infrastructure becomes increasingly important”.
The Chile-based company will retain its tugboat and airport logistics businesses.