Chilean terminal network SAAM bought by Hapag

Hapag-Lloyd’s terminal network is expanding now that they have acquired the terminals and logistics operations of Chilean group SAAM. For the 10 terminals in North, Central and South America and the five terminals it supports in Chile, Hapag-Lloyd has paid $1 billion. For now, tugboat services and airport logistics are not included in this acquisition. According to top executive Rolf Habben Jansen, SAAM’s 10 terminals account for 3.5 million TEU per year and the expansion is part of Hapag-Lloyd’s strategic agenda. Latin America is an important markets and the acquisition allows Hapag-Lloyd to expand their terminal portfolio. In May this year, Hapag-Lloyd already announced it was developing a 3 million TEU terminal in Damietta (Egypt) in cooperation with Eurogate and Contship. In addition, less than 3 weeks ago, Hapag-Lloyd announced its interest in about 49% of the shares of the Spinelli Group, which owns 4 rail terminals in Italy and the Genoa port terminal.