Kenya floats $1.17bn port selloff as global terminal deals stack up

Kenya has put a US$1.17 billion port concession programme on the table, spanning Mombasa and Lamu assets and packaged as a portfolio sale — the largest single number in a two-month wave of terminal deals across Africa, the Americas and Europe tracked by Port Strategy from 1 September to end-October.

The activity level is healthy. New concessions, extensions and privatisations are all in the mix. But the trade's own commentary carries a warning: concession irregularities are not confined to bidders. The Q4 2026 Viewpoint editorial argues that issuing authorities themselves sometimes structure flawed or manipulable processes — not just outside parties gaming them. There are still big lessons to learn, it concludes.

What is Kenya offering?

Two batches, sold together, with no cherry-picking of individual terminals. Phase one covers four assets: Mombasa berths 11–14, Mombasa Container Terminal 1, Lamu Container Terminal berths 1–3 and the Lamu Special Economic Zone. Phase two adds Mombasa Container Terminal II, berths 23 and 24, Mbarakai Wharf, cargo berths 1–5 and 7–10, plus inland depots in Embakasi and Naivasha.

The US$1.17 billion inward investment target excludes a US$60m Kenya Ports Authority contribution under phase one. Take-up is uncertain — the portfolio-only idea has been floated before, in a more limited way, and was not popular. Past privatisation attempts drew fierce union opposition and became a hot political issue before the 2022 general election.

Which African deals moved?

The Port Autonome d'Abidjan is reviewing a merger of its two container facilities, Abidjan Terminal and Côte d'Ivoire Terminal, both now concessioned to Africa Global Logistics after acquisition activity. AGL, a Mediterranean Shipping Company subsidiary, would gain efficiency and aligned concession durations; the port authority expects higher concession fees.

DP World has extended its Luanda concession by ten years to 2051, backed by a US$90m investment programme. The Angolan terminal's operating area grows from 27 to 37 hectares, the quay stretches from 610m to 830m, and equipment purchases are planned.

South Africa will corporatise the Transnet National Port Authority, landlord for eight ports. TNPA becomes a standalone state-owned corporation, independent of Transnet SOC Ltd.

How far behind is Brazil?

Brazil planned 18 port tenders and five inland waterway concessions for 2026. Reality so far: only three port auctions completed — POA26 at Porto Alegre, MCP01 at Santana and NAT01 at Natal. Major assets including Tecon Santos 10 remain unsold. The waterway projects shift access channels — dredging, navigation aids, vessel traffic management — onto a concession basis across local and federal schemes.

One bright spot: the Fortaleza container terminal auction is scheduled for 9 December. The site offers 9,080 TEU of storage capacity, awarded on a fixed monthly payment plus a variable per-tonne cargo fee, with the highest combined bid winning.

In Peru, DP World is negotiating a 30-year extension of its Callao concession to 2066 with the Ministry of Transport & Communications, offering a US$1.47 billion investment programme covering terminal and offtake infrastructure, equipment and IT.

Colombia's President Abelardo De La Espriella has announced a concession overhaul targeting investment validation in a concession's final five years, a wider infrastructure scope — interfacing road, rail and waterway links — and a National Register of port concessions.

What happened in Europe?

CPP Investments and OMERS have agreed to sell their 33.9% and 30% stakes in Associated British Ports to an IFM Investors fund. ABP runs 19 UK port facilities and handles roughly 25% of annual UK seaborne trade. Completion is expected in the first half of 2027.

Brindisi has opened a preliminary market consultation for operators and investors in a new multipurpose terminal at the Costa Morena breakwater — the first step toward a full concession process.

CMA CGM and Stonepeak have finalised their joint venture, branded United Ports. Stonepeak invested US$2.4 billion for a 25% stake in the vehicle holding CMA CGM's existing port assets; CMA CGM keeps 75% and full operational control.

Dunkirk has awarded a new container terminal concession to TIL, MSC's terminal arm. The facility, adjacent to Terminal Link's CMA CGM-operated terminal, will have a 1,000m quay and 68 hectares. Quay construction began in May; opening is slated for 2029.

Is Rotterdam's Omega project still alive?

The Port of Rotterdam is re-entering talks with Hutchison Ports and TIL over Omega, the proposed 6–7m TEU-per-year Maasvlakte mega-terminal incorporating the northern part of ECT Delta Terminal and Delta II land. The port authority wants clarity on whether the project is live; if not, it will re-offer the scheme to the market in early 2027. The potential purchase of Hutchison's port portfolio by TIL and partners remains a live concern for both the authority and port unions.

With issuer-side process integrity now openly questioned and mega-terminal plans in the balance, expect 2027 to open with as much scrutiny on how concessions are structured as on who wins them.