Ports America, a leading terminal operator and stevedore in the US, is acquiring a 10 per cent stake in Yang Ming's Kao Ming Container Terminal Corp (KMCT) in Kaohsiung, Taiwan, for US$45 million.
KMCT was established as a build operate and-transfer (BOT) project under the Port of Kaohsiung's Intercontinental Container Terminal with Kaohsiung Harbour Bureau. The terminal started Phase 1 operations in January 2011 with two berths and handled 1.08 million TEU in its first year. The terminal will have a total of four berths with a 1,500-metre quay and 75-hectare yard when Phase 2 is completed in September 2013, reports Alphaliner.
Ports America has an annual container volume of 12.7 million TEU. It enjoys a close working relationship with Yang Ming as it is one of the joint venture partners in Yang Ming's West Basin Container Terminal in Los Angeles and is the stevedore operator at the Yang Ming-owned terminal in Tacoma.
The KMCT stake represents Ports America's first international port investment. The company currently operates 38 container terminals in 24 US ports. The Taiwan International Ports Corporation (TIPC) has begun land reclamation for the construction of the Port of Kaohsiung Intercontinental Container Terminal (ICT) Phase II, located next to KMCT.
ICT Phase II will add 19 new deepwater berths, including five container berths designed to handle ULCS of up to 18,000 TEU. These five new container berths are due to be completed in 2017 and will add at least four million TEU to Kaohsiung's annual capacity.