Maersk Group could be the Concessionaire of Puerto Quetzal

The acquisition of TCB by APM Terminals means that any dispute concerning the granting of Puerto Quetzal will involve the largest group in the world in the maritime sector, the Maersk shipping company.

Monday, April 25, 2016

Following the Public Ministry's denouncement of the existence of an illicit money laundering network operating in the Container Terminal at Quetzal , the government of Jimmy Morales is torn between declaring void the concession contract with the current operator, TCB, as recommended by the Attorney General's Office on several occasions, or making other arrangements with the company. The Morales government may have to negotiate with the Danish giant Maersk Group, which bought 100% of the shares of the Spanish TCB in October 2015, according to an article on Elperiodico.com.gt.

Elperiodico.com.gt "... consulted the social communications office at TCQ regarding the multi million dollar transaction between TCB and APM Terminals in order to know whether it would be Maerks subsidiary which the Guatemalan government would face in court, if there was a lawsuit over the annulment of onerous usufruct, but no response was obtained and they simply stated that no comment would be made. "

"... The media office of TCQ attached a press release on March 9, which reported the completion of the acquisition of TCB Grup Maritim on the part of APM Terminals. The report notes that to date they are awaiting approval from three of the 11 container terminals that TCB has. ''However, they have decided to continue with the acquisition, and the remaining terminals constitute less than five percent of the value of the transaction, the statement said. The response from TCQ to the newspaper does not indicate what are the three terminals that they are waiting to acquire; however, the report includes TCQ as one of the terminals that will allow APM Terminals to increase their locations by seven percent. "

More on this topic

Puerto Quetzal to Resume Operations in March

February 2017

The operator of the container terminal may have already informed customers and shipping companies that on March 9th it will be ready to start receiving the first ships.

In late January the Port of Quetzal (EPQ) gave approval for APM Terminals to start operations at the Quetzal Container Terminal, and now the company could be preparing to start operations from March 9.

Another Company Interested in Puerto Quetzal

January 2017

While pressure grows in Guatemala for the contract with APM Terminals to be annulled, the US company American Ports has expressed interest in operating the port.

Following opposition on the part of Congress to the possibility of approving a bill put forward by the executive branch proposing the granting of a direct concession to APM Terminals, now the Comptroller General of Accounts (CGC) has recommended declaring the contract void and starting a new process.

Maersk Could Pay $43 million for Puerto Quetzal

July 2016

Maersk Group subsidiary have agreed to indemnify the state $43 million and sign a new concession contract in order to operate the Quetzal Container Terminal.

The agreement suggested by the auditor of the Quetzal Container Terminal (TCQ by its initials in Spanish), Alexander Aizenstatd, must be approved by the Guatemalan Congress.

Possible Annulment of Puerto Quetzal Contract

April 2016

President Morales has already given clear signals that the concession contract with the company Puerto Quetzal TCB, will have to be canceled.

Despite being a decision which falls to the Attorney General's Office, in response to persistent queries by journalists, President Jimmy Morales said "... 'The declaration of invalidity is a fact that must be declared. '"

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