Total Terminal International Algeciras S.A. has substantially increased its cold chain facilities. It has also installed 120 new reefer plugs to help it better serve the growing demand for perishable goods. The terminal said it has seen a double-digit increase in reefer traffic since 2016, and between January and July 2020, the trade in perishable goods rose by 18% year-on-year (YoY).
Currently, almost 70 percent of import/export reefer in the port of Algeciras is moved through the terminal. It attributes this to its “unbeatable transit times” and connections with ports in Latin America and Africa.
It is the terminal’s second significant reefer expansion; in May 2018 it invested in 64 new reefer plugs. As a result, the total number of electric plugs dedicated to reefer containers reached 1,144 units, which represents a 20% increase on 2010 when the terminal started operations.
With this upgrade the terminal said it will continue offering a value-added service to customers and guarantee power supply capacity enough to absorb the peak season’s volume which will start again in September.
HMM sells stake in Algeciras container terminal
Meanwhile, South Korean shipping major HMM has signed a sales and purchase agreement with French counterpart CMA CGM for the sale of its 50 per cent stake minus one share in Total Terminal International Algeciras (TTI Algeciras), a container terminal in the south of Spain.
Shares of TTI Algeciras are owned by HMM and HT Algeciras — a special purpose company wholly controlled by HMM. HMM directly owns a stake of 50 per cent minus one share, with the remaining 50 per cent stake plus one share held by HT Algeciras.
The financial details including the price of the deal have not been disclosed.