15.9 C
Hamburg
Sunday, June 1, 2025
Home Port News Evergreen makes US$76 million investment in Oakland terminal

Evergreen makes US$76 million investment in Oakland terminal

Evergreen Marine Corporation’s terminal operating subsidiary Everport Services has invested US$76 million in the port of Oakland.

No further information was released, with Evergreen citing confidentiality.

The disclosure of the investment coincided with Evergreen acquiring a 20% stake in Euromax’s terminal in the Dutch port of Rotterdam on 17 August.

Drewry Maritime Financial Research analyst Aditi Niranjan told Container News that many mainline operators have acquired terminal assets to increase the diversification of their business with the aid of the huge cash reserves they accumulated during the Covid-19-fuelled boom.

She said, “Along with diversification, these terminal assets will help increase the resilience of their overall business model.”

Besides Evergreen, Hapag-Lloyd has gone down the same path, acquiring a 40% stake in J M Baxi Ports & Logistics’ terminals in India and taking over SM SAAM’s ports and logistics business. Similarly, CMA CGM acquired the GCT Bayonne and GCT New York terminals, upping its presence in the US with seven terminals there.

Xeneta’s chief analyst Peter Sand told Container News that while liner operators have leverage with owning terminals, it can be tricky if the terminals serve external operators as well.

“It’s quite a competitive environment within the terminal business. If non-alliance operators believe they are getting bad treatment, they’ll surely discontinue relations,” noted Sand.


Martina Li
Asia Correspondent





Latest Posts

The Indian Ocean Rivalry

The Indian Ocean has emerged as a strategic theater of competition between two Asian giants: India and China. India’s recent developments indicate a rapid expansion...

Statkraft advances plans for green hydrogen scheme at Hunterston

Europe’s largest generator of renewable energy has proposed the development of a green hydrogen facility at Hunterston, the former coal terminal in Ayrshire. Clydeport –...

Port of Bilbao wraps up busiest month for cruise traffic

May has marked a record month for cruise activity at the Port of Bilbao’s terminal in Getxo, with 18 cruise ship calls bringing over...

Tripoli port shutdown sparks maritime crisis in Libya

Libya’s shipping sector is teetering on the edge of collapse as fresh waves of political violence erupt in Tripoli, crippling key port operations and...

Klaipėda port embarks on green hydrogen initiative

Klaipėda Port launched its green hydrogen initiative, positioning itself as the first in Lithuania and the broader Baltic region to produce and supply green...
error: Content is protected !!