APM Terminals, a Maersk subsidiary, has acquired Panama Canal Railway Company (PCRC), the sole railway in Panama, sparking optimism about enhanced logistics and port competitiveness.
The acquisition amount remains undisclosed. This acquisition comes amidst another significant deal involving the transfer of two port concessions near the Canal to a consortium including BlackRock and MSC.
PCRC reported $77 million in revenue and $36 million in EBITDA in 2024. The 76-kilometer railway connects the Pacific and Atlantic coasts.
Former Panama Canal administrator Jorge Quijano deemed the move “interesting,” noting that Maersk Lines, a major Balboa port user, now controls the rail transport, especially considering potential future competition with MSC. Quijano also suggests this allows Panama to renegotiate more favorable concession terms.
APM Terminals highlighted PCRC's operational excellence and its alignment with the company's intermodal container transport services. The acquisition aims to broaden service offerings for global shipping clients.
The deal also suggests potential future investment by Maersk in a new port if the transaction involving MSC goes through.