Independent journal on economy and transport policy
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Mitsubishi HC Capital will buy CAI International for $1.1 billion
The Japanese company will become the fourth largest global operator in the container rental market
June 18, 2021
Cai Chairman David Remington has announced that the operation is the outcome of negotiations that have begun autumn of 2019. The board of directors of the company unanimously approved the transaction, which is is expected to be completed at the end of the fourth quarter this year or at the beginning of the first quarter of 2022.
At the end of the first quarter of this year, the fleet of container of CAI had a size of 1.77 million teu, of which 1.71 million containers owned and 55 thousand containers under management.
Mitsubishi HC Capital entered the rental industry containers in 2014 with the acquisition of the Beacon Intermodal Leasing, which has a fleet of about 1.8 million teu. The Japanese company has specified that it has since been willing to increase the presence in this market, sector - highlighted MHC - which in ten years has seen an increase in the share of containers rental within the entire world fleet of containers from 41% in 2009 to 51% in 2019, a share that continues to grow appreciably. An increase that, among other things, has accelerated with the significant growth of containerised maritime transport caused by the effects of the Covid-19 pandemic. with the acquisition of CAI the Japanese company will become the world's fourth largest container rental market operator by the size of the fleet behind the Triton, the Textainer and not far from Florens.
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Cai Chairman David Remington has announced that the operation is the outcome of negotiations that have begun autumn of 2019. The board of directors of the company unanimously approved the transaction, which is is expected to be completed at the end of the fourth quarter this year or at the beginning of the first quarter of 2022.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
