HHLA Acquires Estonia’s Biggest Terminal Operator

Hamburger Hafen und Logistik AG (HHLA) acquires Estonia’s biggest terminal operator Transiidikeskuse AS. A corresponding contract was signed on 26 March. The new subsidiary will be allocated contractually and organisationally to HHLA International GmbH. This will make HHLA the market leader in container handling at the Port of Muuga, located close to the Estonian capital Tallinn. Since 2005, HHLA is also operating a container terminal outside of Hamburg in the Ukrainian city of Odessa.

Regarding the acquisition of Transiidikeskuse AS, Angela Titzrath, Chairwoman of HHLA’s Executive Board, explains: “Estonia is one of the fastest-growing economies in Europe and a pioneer when it comes to digitisation. We are therefore pleased to be integrating Transiidikeskuse AS – already a profitable and high-performing company – into the HHLA family. One of HHLA’s targets is to grow internationally. The successful conclusion of this contract shows that we are doing just that. The acquisition enables us to enter a promising regional market that offers growth potential as a result of its geographic position and its link to the ‘New Silk Road’. As Hanseatic cities, Hamburg and Tallinn share a long history, to which HHLA is now adding a new chapter. At the same time, we will continue to enhance the Port of Hamburg by investing in facilities and technology. We are a Hamburg-based company, at home in Europe and operating globally.”

Anatoli Kanajev, founder and owner of Transiidikeskuse AS, explained: “I am glad to hand over responsibility for Transiidikeskuse AS (TK) to HHLA. HHLA has extensive experience and expertise as a container terminal operator. This will ensure that Transiidikeskuse AS will be successful in the future and will also see sustainable development.” Mr Kanajev will be part of the TK Supervisory Board.

The Port of Muuga is the main port in Estonia and an important maritime location in the Baltic region. The company newly acquired by HHLA is the clear market leader in container handling in the Baltic country and also operates a multipurpose terminal for breakbulk, bulk and RoRo handling. The location is developing into a multimodal hub as a result of regional infrastructural projects (such as the Rail Baltica project). With the acquisition of Transiidikeskuse AS, HHLA is expanding its regional diversification.

The container terminal currently has a high utilisation of its capacity of approximately 300 thousand TEU which can be increased to around 800 thousand TEU. HHLA expects to leverage synergies by further professionalising sales and operations and integrating the port operator into the HHLA network.

Completion of the transaction is subject to various conditions precedent and is expected to occur in the second quarter of 2018. HHLA’s Supervisory Board has already approved the acquisition.

Press Release: hhla.de

Disclaimer :
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Latest Shipping News You Would Like:

55 Chinese Sailors Presumed Dead After Nuclear Submarine Became Trapped Underwater, According To Sources

Posted on October 4, 2023

According to Western intelligence estimates, 55 Chinese sailors were killed when a nuclear submarine became stuck underwater, however, China denies this.

All Three Of Ukraine’s Major Black Sea Ports Have Reopened To Ships

Posted on October 4, 2023

Despite Russian threats to attack ships sailing to Ukrainian ports, all three of Ukraine’s Black Sea ports have reopened to grain exporting ships.

Four In Court Regarding A €157 million Cocaine Seizure From A Cargo Vessel

Posted on October 4, 2023

In connection with last week’s €157 million narcotics seizure off the Cork Coast, four individuals have made court appearances and have been appropriately charged.

World’s Largest Cruise Ship “Icon Of The Seas” Will Make its Debut in January 2024

Posted on October 4, 2023

The largest cruise ship in the world, the Royal Caribbean Icon of the Seas, is nearly finished at Finland’s Meyer Turku shipyard.

Remains Of US Navy Sailor Killed In The Pearl Harbor Attack Identified After 80+ Years

Posted on October 4, 2023

Officials reported this week that a US Navy man killed in the WWII attack on Pearl Harbor has been identified, over 80 years after his death.