The acquisition covers multiple berths at Laem Chabang, Thailand’s deep-water port. Credit: Mica Stock/Shutetrstcok.

COSCO Shipping Ports has taken stakes in two container terminals at Laem Chabang Port, Thailand’s largest, for $110m.

The deal saw Cosco Shipping Ports acquire 12.5% and 30% equity stakes in Thai Laemchabang Terminal (TLT) and Hutchison Laemchabang Terminal (HLT), respectively, which are controlled by Hutchison Port Group.

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It encompasses Berth A2 in TLT and Berths A3, C1-C2, and D1-D3 in HLT, with the latter still under construction. Once fully operational, the total capacity is expected to reach about 6.7 million twenty-foot equivalent (TEU) annually.

TLT and HLT are the largest terminal operators within Laem Chabang Port, which is situated southeast of Bangkok and is responsible for nearly 80% of Thailand’s total throughput.

The Thai government’s active support for the port’s development, with projects such as the Thailand Eastern Economic Corridor, ensures ongoing infrastructure expansion.

This acquisition is crucial for Cosco Shipping Ports, as Laem Chabang Port is a primary port of call for the company’s dual brands in Thailand.

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It aims to bolster trade and economic ties between China and Thailand, optimise port resource layout, and deepen synergies between port and shipping companies.

The company plans to expand its relationship with its dual brands and other shipping companies in Thailand and Southeast Asia.

It views this acquisition as strategically significant, with promising market growth prospects.

Cosco Shipping Ports has terminals spanning key regions in China, Europe, the Mediterranean, the Middle East, Southeast Asia, South America, and Africa.

As of 30 September 2024, Cosco operated 371 berths across 39 ports, including 224 container berths, with an annual handling capacity of around 123 million TEU.