Wallenius Wilhelmsen (WW) has entered into a definitive agreement to sell its Melbourne International Roro & Auto Teminal (Mirrat) to a subsidy of Qube Holdings, Australia’s largest logistics provider.
WW said the AUD 332.5m sale ($221.5m) to Qube’s subsidiary Australian Amalgamated Terminals would not impact its services to customers, as WW will continue to utilise the terminal following the transaction.
“Mirrat has been incredible successful both commercially and financially, and the sale demonstrates the values created in our logistics business,” said Lasse Kristoffersen, president, and CEO at Wallenius Wilhelmsen. “As we continue to develop our integrated offering to customers, we believe the terminal’s independence and open access can be even better developed under a new and independent ownership. We will continue to be a happy customer of Mirrat and work with the strong team there.”
The CEO added that Wallenius Wihelmsen “remains firm in its commitment to Australia as a critical market for shipping and logistics customers” and that it is continuously looking for opportunities to expand its global integrated logistics offering.
The Mirrat terminal first opened in 2016 with a 187,000 sq.m footprint, including three berths, 14,500 car slots, two vehicle washing bays, a 120-tonne gantry crane and dedicated inspection zones.
The closing of the transaction is expected in the third quarter of this year, subject to the regulatory and contractual approvals.
Wallenius Wilhelmsen has been making several strategic business moves recently. In April, WW ordered four additional next-generation Shaper Class pure car and truck carrier (PCTC) vessels from Jinling Shipyard in China to secure sustainable capacity, bringing its total order to eight.
In May last year, the company expanded its services through the purchase of the outstanding 30% of Syngin Technology, which provides an online marketplace for the distribution of vehicles, connecting companies with a network of more than 2,000 owner-operated truck carriers across the US. Qube operates in over 200 locations across Australia, New Zealand and Southeast Asia.
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