Wallenius Wilhelmsen Sells Mirrat Terminal to Qube for AUD 332.5m
Wallenius Wilhelmsen (WW) has agreed to sell its Mirrat terminal in Australia to Qube's subsidiary Australian Amalgamated Terminals for AUD 332.5m ($221.5m). The transaction is expected to close in the third quarter of this year, subject to regulatory and contractual approvals.
The Mirrat terminal, opened in 2016, spans 187,000 sq.m and includes three berths, 14,500 car slots, two vehicle washing bays, a 120-tonne gantry crane, and dedicated inspection zones. WW believes the terminal's independence and open access can be better developed under new and independent ownership. The takeover is expected to occur within the period from 2024 to 2025.
Lasse Kristoffersen, president, and CEO of Wallenius Wilhelmsen, stated that the sale demonstrates the value created in their logistics business. The sale will not impact WW's services to customers, as WW will continue to utilise the terminal following the transaction. Meanwhile, Qube, which operates in over 200 locations across Australia, New Zealand, and Southeast Asia, will add the Mirrat terminal to its portfolio.
The sale of the Mirrat terminal to Qube's subsidiary is set to strengthen Qube's presence in Australia. WW, on the other hand, continues to invest in its fleet, having recently ordered four additional next-generation Shaper Class pure car and truck carrier (PCTC) vessels from Jinling Shipyard in China, bringing its total order to eight.
