APM Terminals acquires Panama Canal Railway Company
APM Terminals has officially announced the acquisition of the Panama Canal Railway Company (PCRC) from Canadian Pacific Kansas City Limited (CPKC) and the Lanco Group/Mi-Jack.
PCRC operates a 47-mile single-track railway alongside the Panama Canal, primarily facilitating cargo movement between the Atlantic and Pacific Oceans. In 2024, PCRC reported revenues of U$77 million and an EBITDA of $36 million.
“The acquisition of the Panama Canal Railway Company is an attractive infrastructure investment for us, aligning perfectly with our core services in intermodal container movement,” stated APM Terminals CEO Keith Svendsen. “The company is well-regarded for its operational excellence, and this acquisition will allow us to provide a broader range of services to our global shipping customers.”
Keith Creel, President and CEO of CPKC, expressed satisfaction with the completion of the transaction.
“We are pleased to finalize this deal with APM Terminals, part of A.P. Moller-Maersk, which is not only a strategic partner for CPKC but also a major customer of the Panama Canal Railway Company,” he stated. “Selling this non-core asset generates value for our shareholders and underscores our commitment to optimizing our assets while focusing on expanding our core North American rail business through our unique three-nation network that connects Canada, the United States, and Mexico.”
