Noatum Group Strengthens Maritime Presence with Acquisition of Castellón Terminal

AD Ports-backed Noatum Terminals consolidates operations in Spain, enhancing its position as a key player in the Western Mediterranean maritime sector.

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AD Ports has successfully acquired Spain’s Castellón terminal from APM Terminals, a subsidiary of A.P. Moller–Maersk, in a strategic move to consolidate terminal operations in the region. The Castellón terminal, located north of Valencia on the Mediterranean, has been operated by APM Terminals for the past eight years. However, APM Terminals considers this facility a non-core asset, prompting the decision to divest.

The acquisition, valued at €100 million (enterprise value), involves Noatum Terminals, a part of Noatum Group, taking over 100 percent ownership of the Castellón terminal. Noatum Terminals has been managing a multipurpose terminal in Castellón since 2004 and sees this transaction as a crucial step in consolidating its position in the Spanish maritime sector. AD Ports, having a pre-existing presence in the port, will utilize this acquisition to streamline its operations in the region.

Carlos Arias, Managing Director, Spanish Gateway Terminals at APM Terminals, explained the decision, stating, “The Castellón terminal, acquired by APM Terminals in 2015 with the purchase of the TCB Group, is not a strategic asset for APM Terminals and A.P. Moller–Maersk, and therefore plays a limited role in achieving our strategic goals.”

The regulatory and stakeholder approvals for the change of ownership have been secured, and the transition will take effect immediately. The newly combined operation in Castellón, under Noatum Terminals, is expected to have an annual capacity of 250,000 TEU, representing approximately 70 percent of the container volume capacity of the Port of Castellón. Additionally, the terminals are equipped to handle two million tonnes of bulk cargo, as well as Roll-on/Roll-off (RoRo) operations.

Noatum Terminals emphasizes its commitment to upgrading the port, maintaining existing equipment and facilities, and strengthening its position as a leading multipurpose port operator in the Western Mediterranean. The company has also finalized a long-term agreement with the stevedoring union for the seamless operation of the facilities. This strategic acquisition aligns with Noatum Terminals’ growth strategy, backed by the support of AD Ports, which acquired Noatum in July 2023.

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