CP moves closer to closing KCS deal

AP Møller-Maersk and China International Marine Containers (CIMC) have agreed to terminate the sale and purchase agreement for Maersk Container Industry (MCI), which was announced in September 2021 and had been expected to close in 2022. WorldCargo News understands that there was significant opposition to the deal from regulators in both Europe and the US.

Valparaíso Port Company (EPV) has said that it is not thinking of appealing to Chile’s Supreme Court of Justice in respect of a recent ruling by the Second Environmental Court of Chile regarding its Terminal 2 development. The lower court effectively paralysed expansion of the facility because of environmental concerns.

Uruguay’s Court of Accounts Tribunal de Cuentas – TdC) has ruled in favour of the government’s decision to create an effective monopoly in the Port of Montevideo in terms of dedicated container handling activities. Four judges ruled for and three against.

The Panamanian Association of Business Executives (Apede) has requested greater transparency and more analysis to be made public regarding the decision to automatically extend the concession held by the Panama Ports Company (PPC).

Legal action brought by the State Association of Port Operating Companies (ASOPORT) against the IV Framework Agreement for the regulation of Stevedoring in Spanish ports has been upheld by the courts. As a result, the stevedoring situation in Spain is now in complete turmoil.

In a joint statement, South African transport utility Transnet and international consultants McKinsey announced that they have reached agreement on a ZAR870M (US$64M) settlement, as set out by the Judicial Commission of Inquiry (JCI) in December 2020.