Terminal business acquisition

The takeover of Chile-based SAAM Ports and SAAM Logistics also includes all real estate assets related to the logistic business.

“Investing in terminal infrastructure is a key element of our strategic agenda, and Latin America is one of our stronghold markets,” explained Rolf Habben Jansen, chief executive of Hapag-Lloyd.

“Acquiring SM SAAM’s terminal operations and complementary logistics services will help us to further strengthen our business while building up a robust and attractive terminal portfolio,” he added.

Founded in 1960, SM SAAM provides terminal operations, logistics and towage services across the Americas. Its terminal business comprises ten terminals in six countries with around 4,000 employees and a combined container throughput of around 3.5 million teu in 2021.

The related logistics services complement the terminal business at five locations in Chile, with around 300 employees. SM SAAM’s tugboat services and airport logistics services businesses are not part of the deal and will remain with SM SAAM.

Hapag-Lloyd is expanding its terminal sector presence as part of the company’s Strategy 2023. The closing of the transaction is subject to approval by antitrust authorities and associated customary conditions.