ContShip ItaliaMILAN: April 01, 2019. Contship Italia has sold its 50 percent stake in CSM Italia Gate, the company that owns MCT - Medcenter Container Terminal at the Port of Gioia Tauro in southern Italy, to Itaterminaux, a subsidiary of Terminal Investment Ltd (TIL) that already owns 50 percent of CSM.

MCT holds the container terminal concession at Gioia Tauro until 2044 where MSC is already a partner and the main customer. Contship Italia began container operations at the port 24 years ago.

Terms of the deal have not been disclosed and are subject to regulatory approval. On completion, TIL will own 100 percent of CSM and will indirectly control all the shares of MCT.

Strategically located for East - West trades, Gioia Tauro (pictured) hosts one of the largest transhipment hubs in the Mediterranean and a quay that can handle three ULCC simultaneously.