The port on the southern coastline of the Strait of Gibraltar offers excellent conditions for doing so, as it is now regarded as a strategically important hub for global container traffic. Hapag-Lloyd’s minority stake in the TC3 terminal will now help to link the attractive African markets and the entire Mediterranean even more closely with the liner shipping company’s global network of services. By acquiring a stake in the terminal, the company is ensuring that it will enjoy the necessary capacities.
Once it is fully operational, which is expected to happen in mid-2020, the terminal will have an annual capacity of roughly 1.5 million TEU. Other principal shareholders are the Moroccan port operator Marsa Maroc (50% plus one share) as well as Contship Italia and Eurogate (together 40% minus one share).