A.P. Moller Capital has signed an agreement to acquire 100% of Portek International, a Singapore-based port operator with terminals in seven locations across three continents, from Japanese trading house Mitsui & Co.

The deal, executed through the A.P. Moller Capital Emerging Markets Infrastructure Fund II, hands the fund manager a network handling around seven million tonnes of bulk cargo, 700,000 containers and approximately 90,000 vehicles every year. Founded in 1988, Portek holds interests in terminals across Algeria, Gabon, Indonesia, Latvia, Malta and Vietnam.

Portek also runs port engineering and operations-and-maintenance services, mainly from Singapore and Indonesia, and employs roughly 1,400 people across its headquarters and operating businesses.

What does the deal change for the terminals?

Following completion, A.P. Moller Capital said it will work with Portek's management and local operating teams to develop the business. Its stated priorities are:

• operational performance
• governance
• safety
• capital discipline
• environmental performance, including emissions-reduction planning

The emphasis on emissions planning signals that decarbonisation will shape capital allocation at the terminals, a consideration increasingly embedded in infrastructure fund mandates across the sector.

"Portek is a strong fit with our investment strategy and active owner philosophy," said Semih Gökmen, Partner at A.P. Moller Capital. "It is an established business with a diversified portfolio of port operations serving important trade flows across three continents, supported by experienced local operating teams."

Kim Thagaard Pedersen, Director at A.P. Moller Capital, described Portek as a differentiated port platform with established positions across its markets.

Where does this fit in A.P. Moller Capital's strategy?

The acquisition extends a transport and logistics infrastructure portfolio that already includes Philippines-based AC Logistics and Bergé Logistics, which operates in Spain and Latin America. The fund manager has also signed agreements to acquire majority stakes in Moroccan logistics company Globex Investissement and in port terminal operator Euroports.

Taken together, the transactions sketch a platform spanning multipurpose and bulk terminals across Europe, Africa, Asia and Latin America. For carriers and shippers using Portek's multipurpose facilities, ownership by an active infrastructure investor with a stated focus on operational performance and capital discipline points toward potential investment in terminal capacity and service quality over time.

Completion remains subject to customary closing conditions, including regulatory and other third-party approvals. If cleared, the deal will add Portek's diversified, multi-continent terminal footprint to a rapidly expanding A.P. Moller Capital logistics platform.