Mitsubishi enters the container business

In a first for the company, Mitsubishi has made a foray into the shipping industry, forming a joint acquisition in Valencia, Spain. In a partnership with port harbour transport company, Kamigumi Company, Mitsubishi Corporation has acquired a joint share of 25% in the TCV Stevedoring Company in Valencia’s Port Container Terminal from Spanish global container operator, Grup Maritim. Not only will this allow Mitsubishi an entry point into an industry set to grow exponentially, but also raises expectations for Grup and possible plans for further expansion into foreign territories, including Asia and Africa. In the past 20 years, the container industry has seen remarkable growth. So much so, that at a rate of 9.5% per annum, it has well outpaced the speed of increase in GDP over the same period (3.5%). As such, MC’s entrance via the Valencia Port Container Terminal comes as a reflection of the Japanese government’s plan to promote the export of infrastructure-related industries and systems worldwide, and jump on the back of a capitally-intensive industry. Simultaneously, the investment grants Grup the chance to further strengthen international projects and expansions for port operations worldwide. With more than 200 offices and subsidiaries in 90 countries worldwide and a multinational workforce of 65 975 people, MC is set to greatly increase Grup’s international hold.