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International Cooperation Department
Tel.: (+86-21) 65853850-8034
Fax: (+86-21) 65373125
E-mail: ICDept@sisi-smu.org
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International Shipping |
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| Maersk's APMT buys Panama Canal Railway Company |
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Date:2025-04-10 Readers:
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MAERSK's APM Terminals (APMT) has acquired the Panama Canal Railway Company (PCRC) from Canadian Pacific Kansas City Limited and the Lanco Group/Mi?Jack, reports London's Port Technology International.
PCRC operates a 76-kilometre single-line railway adjacent to the Panama Canal that mainly facilitates cargo movement between the Atlantic and Pacific Oceans. In 2024, the PCRC generated revenue of US$77 million and $36 million in EBITDA.
"The Panama Canal Railway Company represents an attractive infrastructure investment in the region aligned to our core services of intermodal container movement," said APMT chief executive Keith Svendsen.
"The company is highly regarded for its operational excellence and will provide a significant opportunity for us to offer a broader range of services," he said.
Said CPKC president and CEO Keith Creel: "We are pleased to have completed this transaction with APM Terminals, a part of AP Moller-Maersk, a key strategic partner of CPKC's and major customer of the Panama Canal Railway Company."
Last month, Maersk and the Port Authority of New York and New Jersey (PANYNJ) reached an agreement to extend the lease for APMT Elizabeth until December 2062.
https://www.shippingazette.com/news?news_id=9250400000248
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