According to Shipping Industry Network, Alphaliner analysts stated that Hapag-Lloyd has increased its stake in the Indian ports and logistics group JM Baxi ports and logistics (hereinafter referred to as “Baxi”) to 50%.
Specifically, Hapag-Lloyd initially acquired approximately 35% of Baxi from Bain Capital in early 2023, subsequently raising it to 40% through a capital injection. The latest increase accompanies a structural reorganization of Baxi’s business, with the Indian group spinning off its container business into a new entity, JM Baxi Container Holdings Private Limited. Hapag-Lloyd holds a 49% stake in the new container entity through its wholly-owned subsidiary HL Terminal Holding BV, but exercises effective control through a majority on the board of directors and will increase its shareholding to 51% in the future. In the non-container business, Hapag-Lloyd holds a 49% stake. Baxi’s container terminals cover Kandla, Haldia, Visakhapatnam, and Thoothukudi.
In fact, according to follow-up reports by Shipping Industry Network, Hapag-Lloyd has signed a series of Letters of Intent with the Indian government, aiming to deepen its business in one of the fastest-growing shipping markets.
Hapag-Lloyd CEO Rolf Habben Jansen said, “India is one of the most important growth markets in global trade and a key strategic partner for Hapag-Lloyd.”
Hapag-Lloyd aims to increase its India-related business to approximately 3 million TEU by 2030, as part of its broader strategy to expand in key emerging markets and strengthen its position in global container trade.
According to the latest data from Alphaliner, in the global top 100 liner company capacity rankings, Hapag-Lloyd ranks 5th globally, operating 286 ships, including 133 owned vessels and 153 chartered vessels, with a total slot capacity of 2.384 million TEU. Furthermore, Hapag-Lloyd also holds orders for 58 newbuild vessels, totaling 477,000 TEU.
