Hutchison in Italian port deal with Evergreen

Hutchison in Italian port deal with Evergreen Hutchison Port Holdings (HPH) and Evergreen Group have signed an agreement under which HPH will become a shareholder of Taranto Container Terminal S.P.A. in Italy.
   The agreement constitutes a share swap of Evergreen's interest in Taranto Container Terminal for a minority stake interest in London Thamesport (LTP) and ECT Delta.
   'This new investment as it will enable HPH to establish its first transshipment presence in the Central Mediterranean,' said John Meredith, group managing director of HPH. 'This transaction will also further enhance our global relationship with Evergreen.”
   'We are able to access HPH's wealth of knowledge in common user terminal management and at the same time gain an interest in two very important deep sea container terminals in northern Europe,' said Raymond Lin, vice group chairman of Evergreen Group.
   Port of Taranto is one of Italy's top five container ports and is located about 170 nautical miles from the main Suez-Gibraltar shipping route.