COSCO Shipping Ports has completed its acquisition of a 12.5 per cent stake in Thai Laem Chabang Terminal and a 30 per cent stake in Hutchison Laem Chabang Terminal.
The combined consideration was approximately $110 million, according to HFW, the law firm advising on the deal.
The seller was Hutchison Port Holdings, the Hong Kong-based global terminal operator.
TLT and HLT are the two largest container terminals at Laem Chabang, Thailand’s primary deepsea port, which handles roughly 80 per cent of the country’s total container throughput.
Ranked 20th globally by Lloyd’s List, the port saw volumes rise 7.7 per cent in 2024 to 9.6 million TEU.
Originally announced last year and finalised last month, the deal marks a further step in COSCO Shipping Ports’ expansion strategy in Southeast Asia.
According to HFW, the transaction strengthens COSCO’s position in the region and supports collaboration with global carriers in Thailand and beyond.
READ: COSCO SHIPPING delivers wind equipment to Georgia
It also enables the group to broaden its integrated logistics offering, including terminal and port-related services.
The transaction was led by HFW shipping partner Henry Fung and corporate partner Wing Cheung, with support from Roger Wong and Johnnie Ho.
HFW’s Singapore team, including senior associate Zoe Triantafyllou and trainee solicitor Michael Popp, attended the closing.
The move follows a series of regional acquisitions by Chinese port operators, with China Merchants Port Holdings having secured assets in Indonesia and Thailand late last year, amid intensifying competition to meet growing demand across Asia.
In September, Colombian Customs began accepting electronic Bills of Lading (eBLs) for the first time, in collaboration with COSCO.
