Hamburger Hafen und Logistik AG (HHLA) acquires one of Estonia’s biggest terminal operators, Transiidikeskuse AS, with a contract signing on March 26, 2018.
The acquisition will make HHLA the market leader in container handling at the Port of Muuga, located close to the Estonian capital Tallinn.
The Port of Muuga is the main port in Estonia, and an important maritime location in the Baltic region.
The new acquisition will also act as a multipurpose terminal for bulk and Roll on/Roll off handling.
Read the “LNG as an energy source for economies around the Baltic Sea” for further discussion on the region's economies
The container terminal has a current utilisation of its capacity of approximately 300 thousand TEU, which has the potential to increase to around 800 thousands TEU.
Chairwoman of HHLA’s Executive Board, Angela Titzrath said: “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’.”