Hapag-Lloyd wraps up SM SAAM purchase

Hapag-Lloyd wraps up SM SAAM purchase

Hapag-Lloyd has completed its 100 per cent acquisition of SM SAAM’s terminal business and related logistics services, as agreed in October 2022.

All relevant antitrust authorities in the countries involved in this purchase process unequivocally authorised the deal.

Rolf Habben Jansen, CEO of Hapag-Lloyd AG, said: “We are very pleased about the successful completion of this transaction, which significantly increases our footprint in Latin America and underlines our commitment to the Latin American markets.

“Looking ahead, we will focus on further developing the business and on continuing to offer the best quality to all of SAAM Terminals’ customers.”

READ: Hapag-Lloyd appoints new Senior Managing Director of Region North Europe

Investing in terminal infrastructure is a crucial component of Hapag-Lloyd’s business plan, and Latin America is an important market for the company.

The deal comprises stakes in ports at Iquique, Antofagasta, San Antonio, San Vicente, and Corral (Chile), Port Everglades (United States / Florida), Mazatlán (Mexico), Buenavista (Colombia), Guayaquil (Ecuador), and Caldera (Costa Rica), as well as logistical services.

The acquisition will help Hapag-Lloyd enhance its core liner shipping operation and establish a strong and appealing terminal portfolio.

READ: Hapag-Lloyd boxship makes call at Wilhelmshaven under FE2 service

The new entity will be led by its CEO, Mauricio Carrasco, who has been Managing Director for the Terminals Division within the SAAM Group since 2020.

Carrasco has served as Senior Vice President of Development at Compañía Sud Americana de Vapores (CSAV) and as Senior Director at Hapag-Lloyd, with responsibilities in the Americas, China, Dubai, and India.

Rodolfo Díaz, Former Senior Director Business Administration Region Latin America at Hapag-Lloyd, will join him as CFO.

In July 2023, Hapag-Lloyd installed a large liquefied natural gas (LNG) storage tank on its LNG-powered 23,600 TEU containership, Berlin Express.

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