Mitsubishi Corporation Enters Container Terminal Business in Valencia, Spain
Tokyo, Apr 7, 2014 - (JCN Newswire) - Mitsubishi Corporation (MC) and Kamigumi
Co., Ltd (KG) have jointly acquired a 25% share in TCV Stevedoring Company S.A.
(TCV)(1) from Spanish global container terminal operator, Grup Maritim TCB,
S.L. (GMTCB)(2). The move allows MC to enter the container terminal business in
Container transportation has seen remarkable growth over the past two decades,
reflecting the growth of the global economy and increases in international
trade. However, at an average annual growth rate of 9.5 percent, container
handling volumes worldwide almost triple the 3.5 percent growth rate of world
GDP over the same period.
The volume of containers handled by the Port of Valencia (4.5 million TEU in
2012) (3) is similar to the scale of operations handled by the Port of Tokyo, a
major shipping terminal in Asia. Serving as the main port for Spain's
hinterland and principal economic corridor, including the inland capital,
Madrid, Valencia covers a population of approximately 13 million. The Port of
Valencia also functions as a transshipment hub for neighboring countries in the
Mediterranean and northwestern Europe, making it the largest container port in
the Mediterranean. In addition, more than a half of Valencia's average
annual growth in container volumes (13 percent over the past two decades) can
be accredited to cargo traffic between Valencia and ports in Asia, where
countries are registering remarkable rates of growth. The Port of Valencia is
therefore expected to see continued growth in the coming years.
This strategic partnership with GMTCB marks MC's first full-scale entry
into the promising container terminal business. The project also responds to
the Japanese government's strategy to promote the export of
infrastructure-related industries and systems. In this context, partnership
with GMTCB on these kinds of projects will enable MC to further develop its
infrastructure business globally, including the operation of container
terminals, particularly in emerging countries in Asia, Africa and Latin
(1) TCV Stevedoring Company S.A.：A subsidiary of Grup Maritim TCB
S.L. that operates a container terminal in Valencia. Headquartered in Valencia,
(2) Grup Maritim TCB, S.L.：A global container terminal operator
which operates container terminals in Europe and Latin America. Headquartered
in Barcelona, Spain.
(3) TEU: Twenty-foot equivalent unit, the unit of measurement for cargo volume.
About Mitsubishi Corporation
Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business
enterprise that develops and operates businesses across virtually every
industry including industrial finance, energy, metals, machinery, chemicals,
foods, and environmental business. MC's current activities are expanding
far beyond its traditional trading operations as its diverse business ranges
from natural resources development to investment in retail business,
infrastructure, financial products and manufacturing of industrial goods. With
over 200 bases of operations in approximately 80 countries worldwide and a
network of over 500 group companies, MC employs a multinational workforce of
nearly 60,000 people. For more information, please visit www.mitsubishicorp.com.
Telephone:+81 3 3210 2171
Facsimile:+81 3 5252 7705
Copyright 2014 JCN Newswire. All rights reserved. www.japancorp.net
Provider ID: 00028961
Press spacebar to pause and continue. Press esc to stop.