Adani Ports and Special Economic Zone Ltd is in talks with Mediterranean Shipping Company over the sale of a potential equity stake in Vizhinjam Port, according to India Shipping News.
MSC could acquire up to 49% of the deep-water transhipment hub in Thiruvananthapuram if the deal goes through. The potential sale would fit within APSEZ’s concession agreement with the Kerala government, which allows the operator to reduce its holding to 26% or lower under certain conditions after the first phase of commercial operations.
Vizhinjam is nearing its second year of operations and has already crossed the 2m-TEU cargo-handling mark. The port passed 1m TEU within its first year. The port has handled more than 950 vessels since operations began, including 67 ultra-large container ships. It has also received MSC Irina and MSC Verona, among the world’s largest container ships.
Traffic has tested capacity at the port. About 100 vessels were waiting for berths during earlier congestion, largely driven by MSC operations. The first-phase 800-metre berth can handle only a limited number of large ships at one time.
A completed deal would move MSC from major customer to co-owner, giving it a deeper operational position at the port.
APSEZ already has partnerships with global shipping groups, including joint ventures with CMA CGM and Terminal Investment Ltd at terminals in Mundra and Kamarajar. Terminal Investment Ltd is linked to MSC.
Adani Ports and Special Economic Zone Ltd is an Indian port developer and operator within the Adani Group. Its business covers port terminals, logistics infrastructure and related cargo-handling assets across India.
Mediterranean Shipping Company is a privately held shipping group headquartered in Geneva. Its business includes container shipping, logistics and terminal-linked operations through subsidiaries and associated companies.
