A.P. Moller Capital to buy Portek from Mitsui

The Portek deal covers 100% of the Singapore-based operator. It was announced less than three weeks after a 28 September 2026 agreement to buy a 53.35% controlling stake in Thaumas N.V., the parent of Euroports, from shareholders including R-Logitech. The Euroports stake is being bought through a separately managed investment vehicle.

The scale of the terminal networks

Euroports operates more than 50 deep-sea and inland terminals across 10 European countries and China, handling over 70 million tonnes of cargo annually. Its facilities move fertilisers, metals, minerals and forest products through international trading centres.

Figures cited by Moody's put Euroports' 2024 revenue at €1.028 billion, an 11% increase on the previous year, with €108 million in EBITDA.

Portek's terminals handle seven million tonnes of bulk cargo, 700,000 containers and 90,000 vehicles a year. Together, the businesses would operate more than 50 terminals across Europe and China, alongside seven additional terminals spanning Africa, Asia and Europe, including facilities in Algeria and Gabon.

The buyer and its portfolio

A.P. Moller Capital is an infrastructure investment manager and a sister company to Danish liner operator A.P. Moller-Maersk. The Portek and Euroports agreements follow its investment in Spanish port and logistics operator Berge.

The acquisitions would strengthen A.P. Moller Capital's European bulk and breakbulk presence, while Portek would add a geographically dispersed terminal network across Africa, Asia and Europe. Portek also adds container handling, vehicle shipments, bulk cargo operations and port engineering services to the portfolio.

Kim Fejfer, A.P. Moller Capital's chief executive, said the investment reflected the importance of secure trade networks.

"In a changing world, resilient supply chains and secure trade flows are increasingly essential to economic stability and growth."

Semih Gokmen, a partner at the firm, said Portek "is an established business with a diversified portfolio of port operations serving important trade flows across three continents".

Portek's terminals in Africa and Asia

Portek has interests in seven terminals across Africa, Asia and Europe, including Algeria and Gabon, plus port engineering and maintenance services.

In Algeria, Portek operates Bejaia Mediterranean Terminal through a partnership with the local port authority. The facility has an annual container-handling capacity of 300,000 TEUs. In Gabon, it operates through Gabon Port Management, which manages facilities at Owendo, near Libreville, and Port-Gentil, handling containers, vehicles and general cargo.

Euroports' network includes operations in Antwerp-Bruges in Belgium, Rostock in Germany, Venice in Italy and Port-la-Nouvelle in France.

What happens next

Both transactions remain subject to regulatory approvals and closing conditions. Belgian investment institutions SFPIM and PMV will retain stakes in Euroports after completion.