Bruce Barnard | Jun 22, 2011 12:52PM EDT
DFDS, northern Europe’s largest short-sea freight shipping company, sold a cargo terminal in Rotterdam to Germany’s Rhenus Logistics for $35 million.
Copenhagen-based DFDS said it would book a gain of $8.8 million from the sale of the roll-on, roll-off and breakbulk facility.
DFDS said the 200,000-square-meter (2.2 million-square-foot) terminal became redundant following the company’s $475 million acquisition of ro-ro carrier Norfolkline from Denmark’s A.P. Moller-Maersk last July.
Following the deal, DFDS transferred its U.K.-Rotterdam service from the terminal to a nearby Norfolkline facility in Rotterdam.
DFDS said the sale would boost its projected 2011 pretax profit to $114.2 million from a previously forecast $105.8 million.
With annual revenue of more than $4.3 billion and 18,000 employees, Rhenus is one of Europe’s largest logistics companies and has a growing port terminal business.
Contact Bruce Barnard at brucebarnard47@hotmail.com.