Evergreen Marine Corp. has confirmed the acquisition of the entire stake in Colon Container Terminal SA (CCT), a major box terminal in Panama.
Taiwan’s shipping company spent approximately US$268 million for the takeover of CCT and aims to enhance its presence in the region.
Evergreen Marine president, Hsieh Huey-chuan, noted that CCT serves as one of the most important transportation hubs for Evergreen Marine and its subsidiary Evergreen Marine (Asia) Pte. Ltd. in terms of the routes between Asia and the Americas.
Hsieh believes that the acquisition of 100% stake in the terminal will improve Evergreen Group’s services and transshipments.