Hapag Lloyd Expands Stake in Indian Ports Group

Hapag-Lloyd has raised its ownership in India’s JM Baxi Ports and Logistics to 50%, according to details confirmed in its 2025 annual report and noted by analysts at Alphaliner.

The Hamburg-based shipping company initially acquired a 35% stake in JM Baxi in early 2023 from Bain Capital. It later increased this to 40% through additional investment the same year. The latest expansion comes as part of a broader restructuring of JM Baxi’s operations, with its container business being separated into a new entity, JM Baxi Container Holdings Private Limited.

Through its fully owned subsidiary, HL Terminal Holding BV, Hapag-Lloyd currently holds 49% of both the capital and voting rights in the new container-focused company. However, it maintains effective control due to its majority representation on the board and is expected to increase its stake to 51% in the future.

In the group’s non-container activities, Hapag-Lloyd holds a 49% share. JM Baxi’s container terminal network includes key Indian ports such as Kandla, Haldia, Visakhapatnam, and Thoothukudi.

The move aligns with Hapag-Lloyd’s broader strategy to strengthen its footprint in India, one of the world’s fastest-growing shipping markets.

Recently, the company signed several agreements with the Indian government, including three letters of intent covering vessel reflagging, ship recycling, and port development.

Hapag-Lloyd aims to increase its India-related cargo volumes to around 3 million TEU by 2030. This forms part of its wider plan to expand in emerging markets and reinforce its position in global container shipping.