COSCO Shipping Ports Acquires Stake in Thailand's Largest Port

COSCO Shipping Ports has made a significant investment in Thailand’s largest port by acquiring stakes from Hutchison Ports at Laem Chabang.

China's largest maritime conglomerate is investing $110 million to acquire a 12.5% stake in Thai Laemchabang Terminal (TLT) and a 30% stake in Hutchison Laemchabang Terminal (HLT), which are the two largest terminals at the port.

The acquisition includes berth A2 in TLT, as well as berths A3, C1-C2, and D1-D3 in HLT, with D1-D3 still under construction. Once fully operational, these berths will have a combined annual capacity of approximately 6.7 million TEU.

"The acquisition will help further develop the trade and economic ties between China and Thailand," COSCO Shipping Ports said in a statement.

This marks COSCO's second Southeast Asian port holding, with its first being the COSCO-PSA Terminal in Singapore.