In a strategic response to the evolving maritime landscape, Everport Services, a subsidiary of Evergreen Marine Corporation, makes significant investments in key ports, exemplifying a wider trend among industry leaders. The container-news source.
- Everport Services invests $76 million in Port of Oakland, reinforcing terminal ownership trend.
- Mainline operators acquire terminal assets to diversify and enhance resilience.
- Terminal ownership offers leverage but requires managing relations with external operators.
Investment in Port of Oakland
Evergreen Marine Corporation’s terminal operating subsidiary, Everport Services, has made a substantial investment of US$76 million in the port of Oakland, marking a strategic maneuver to enhance its position in the maritime industry.
Diversification Strategy and Terminal Acquisitions
Leveraging the financial reserves amassed during the Covid-19 boom, mainline operators like Evergreen are acquiring terminal assets to bolster diversification and strengthen their business resilience. This trend aligns with the industry’s dynamic changes.
Industry-Wide Trend
Other industry giants, including Hapag-Lloyd, CMA CGM, and more, are following the same path, acquiring stakes and ownership in terminal operations. This strategic move expands their footprint and optimizes their business models.
Challenges and Opportunities
While owning terminals grants liner operators leverage, complexities arise when the same terminals serve external operators. The competitive terminal landscape demands a careful balance between maintaining relations with external partners and optimizing internal operations.
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