Hapag-Lloyd (Hapag-Lloyd) recently announced the successful completion of the acquisition of SM SAAM's terminal business and related logistics services. In October 2022, Herberot announced the acquisition of Latin American terminal operator SM SAAM terminal and related logistics business.
Hapag-Lloyd said the acquisition of all countries of the relevant antitrust authorities unconditional approval.
Hapag-Lloyd CEO Rolf Habben Jansen said: "We are very pleased with the successful completion of this transaction, which significantly increases Hapag-Lloyd's footprint in Latin America and underscores its commitment to the Latin American market. Looking ahead, Hapag-Lloyd will focus on further developing its business and continue to provide SAAM Terminal's all customers with the best quality services."
Investing in terminal infrastructure is a key element of Hapag-Lloyd's strategic agenda as drives its 2023 strategy, with Latin America as one of its key markets. The transaction includes interests in Iquique, Antofagasta, San Antonio, San Vicente and Corral (Chile), Port Everglades (US/Florida), Mazatlán (Mexico), Buenavista (Colombia), Guayaquil (Ecuador) and Caldera (Costa Rica) terminals, as well as related logistics services. The acquisition will further strengthen Hapag-Lloyd's core liner shipping business and help the airline build a strong and attractive terminal portfolio.
The new entity upon completion of the acquisition will be led by Carrasco Mauricio, who has been the managing director of SAAM Group Terminals since 2020. Mauricio Carrasco is an experienced senior executive with long experience in Latin America and globally. He previously served as Senior Vice President of South American Steamship (CSAV) Development and Senior Director of Hapag-Lloyd, with responsibility for operations in the Americas, China, Dubai and India. Rodolfo Díaz, Hapag-Lloyd's former senior director for Latin America, will serve as chief financial officer.
Hapag-Lloyd continues to expand its participation in the terminal industry and holds stakes in Jade Weser Port, Hamburg Altenwerder Container Terminal, Italian Spinelli Group, Indian J M Baxi Ports and Logistics Limited, TC3 Terminal in Tangier Port, Morocco and Phase 2 Terminal in the expansion of Damietta Port, Egypt.
SAAM2023 first half net profit of 33.5 million dollars
Shipping network news, SM SAAM in the first half of 2023 to achieve operating income of $0.4492 billion, an increase of 10%; consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) reached $0.1362 billion, a decrease of 2%; net profit reached $33.5 million.
SAAM CEO Macario Valdés said: "Due to increased business activities and newly consolidated operations, as well as new assets in Brazil and adequate cost control, the tugboat business continued to grow. However, the port business and inland logistics volume declined, mainly due to Chile's less active trade, which was partially offset by other countries' terminal cargo increases."
Macario Valdés highlighted that the recent sale of SAAM's terminals and logistics business and real estate assets to Hapag-Lloyd for approximately $0.995 billion will allow the company to focus on consolidating its Americas tugboat industry leadership and continue its global growth.
In addition, in the second quarter of 2023, SAAM completed the acquisition of Starnav19 tugboats for $0.176 billion, two of which are still under construction and will be delivered in the third quarter of 2023. Another milestone worth mentioning is that SAAM Tug was named "Tug Owners of the Year" by Tug Technologies.
SAAM Continuing and Divested Business Operating Results
SAAM will continue to manage continuing operations (Tugboat and Air Logistics) in the first half of this year to achieve revenue of $0.2189 billion, up 13%;EBITDA reached $77 million.
Business in the Tug segment grew 13 percent, thanks to greater dynamism in the numerous markets in which it operates, as well as recent acquisitions in Brazil and Peru. At the same time, the tonnage of goods handled by Aerosan fell by 5% due to lower import demand.
The divested businesses (Port Terminals and Inland Logistics) are now owned by Hapag-Lloyd, reporting revenue of $0.192 billion (+ 1%) and EBITDA of $54.3 million (-20%), mainly due to Chile Inland Logistics's weak performance.
Source: Shipping Industry