French infrastructure fund DIF Capital Partners has revealed it has teamed up with domestic shipowner CMA CGM on a Spanish container terminal investment.
The move marks its second dip into the shipping sector, following an LNG carrier transaction last year.
Last week, South Korean shipping company HMM said it had sold 50% less a share in TTIA Container Terminal to CMA CGM.
HMM said it expected the deal to enhance the Algeciras terminal’s profitability and operational capabilities by securing additional cargoes.
DIF said TTIA is a modern semi-automatic container terminal, strategically located in the Strait of Gibraltar.
"Such a strategic location has allowed the terminal to maintain strong volumes despite the Covid-19 crisis," it added.
Long-term concession
"TTIA operates under a concession provided by the Port of Algeciras Bay Authority which runs until 2043."
TTIA will benefit from long-term support from both HMM and CMA CGM, who as major shipping companies and port operators, have decided to join forces to support and develop this strategic terminal, the fund said.
Thomas Vieillescazes, a partner at DIF, added: "We are delighted to initiate this partnership with CMA CGM, investing alongside world-leading shipping companies and port operators.
"TTIA is a modern and well-managed terminal, strategically located at the Strait of Gibraltar, with partners providing long-term volume support, making this an attractive investment.
In November 2019, DIF teamed up with Swiss LPG carrier owner Geogas Maritime and Access Capital Partners to buy into LNG newbuildings.
They were to acquire a 50% stake in a French company that will own and operate a fleet of five gas carriers.
The remaining 50% will be held by NYK, who originally ordered the vessels.
The 174,000-cbm units are being built by leading South Korean shipyards and equipped with state-of-the-art LNG-fuelled propulsion technology, resulting in best-in-class environmental performance, DIF said.
