COSCO SHIPPING Ports has expanded its presence in Southeast Asia by acquiring stakes in two major terminals at Thailand’s Laem Chabang Port. The company purchased 12.5% of Thai Laemchabang Terminal (TLT) and 30% of Hutchison Laemchabang Terminal (HLT) for a total of $110 million. These terminals are the largest operators in Laem Chabang, Thailand’s largest deep-water port and the main international container hub, responsible for about 80% of the country’s container throughput.

The acquisition includes Berth A2 at TLT and Berths A3, C1-C2, and D1-D3 at HLT. Some of these berths are still under construction, and once fully operational, the combined facilities will have an annual handling capacity of approximately 6.7 million TEUs (twenty-foot equivalent units).

Laem Chabang Port, located about 60 nautical miles southeast of Bangkok, is crucial to Thailand’s trade and logistics infrastructure. It is also a key part of the Eastern Economic Corridor, a government initiative to boost economic development in the region.

COSCO SHIPPING Ports said this acquisition aligns with its long-term strategy to strengthen economic and trade ties between China and Thailand. “The acquisition will help further develop the trade and economic ties between China and Thailand,” the company stated in its announcement.

This move is part of COSCO’s broader strategy to integrate port resources and expand its logistics services in Southeast Asia. Currently, COSCO’s only other port holding in the region is in Singapore.

COSCO SHIPPING Ports operates globally with 371 berths across 39 ports, including 224 container berths, with an annual handling capacity of around 123 million TEUs as of September 2024.