Maher terminals on the market?
Maher Terminals has recently secured a 33-year lease extension and the Macquarie Group, who own the controlling interest in the New York container terminal is now understood to be looking at its disposal.
Macquarie Group acquired a controlling interest in Maher Terminals from Deutsche Bank in 2016.
Meia reports are circulating that New York-based investment company, BlackRock, could partner with Mediterranean Shipping Company (MSC) to bid for the largest volume terminal in the port. Maher Terminal handles in excess of three million TEU annually, more than 30% of total container traffic in the Port of New York/New Jersey (NY/NJ).
However, the BlackRock/MSC partnership could face competition from other interested parties, with DP World, Hapag Lloyd, PSA and SSA Marine, all reportedly interested, though none of these companies has made any public comments in this respect.
As a comparison, CMA CGM acquired two other facilities at the port belonging to Global Container Terminals for US$3bn in 2023, although collectively these operations are still smaller than Maher Terminals.
Terminal Investment Ltd (TiL), MSC’s terminal company, is currently in a 50-50 joint venture with Ports America at PNCT in NY/NJ, so it is possible that this shareholding may also need to be disposed of, sparking interest from other possible investors.
Macquarie’s stake in Maher Terminals is held through private infrastructure fund Macquarie Infrastructure Partners III, managed by Macquarie Asset Management. The sale of Maher Terminals could coincide with the end of the fund’s term in 2030.
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