Feb. 22 at 5:53 PM
$FECCF This month it was announced that Terminal Investment Limited (
$TIL), part of the
$MSC Group, has completed the purchase of Terminal Portuario de Paracas (TPP). TPP holds the concession to operate Puerto General San Martín port in Pisco, Peru. They paid
$200 million.
It is clear that global operators are aggressively seeking entry into Latin American "gateway" ports.
Multi-purpose, deep-water terminals like Puerto Bahía are scarce. The fact that Frontera Energy is expressly retaining its infrastructure business (Puerto Bahía and ODL) proves that they see Puerto Bahía as a "crown jewel" that is currently undervalued by the market.
If a general cargo terminal in Pisco is worth
$200M, a specialized, refinery-connected energy hub in Cartagena (GASCO deal) - the best-connected port in Latin America - commands a significant premium. Think
$300 million.
And we are yet to talk about ODL which paid 69 million in dividends to them over 2025.
Shares worth well north of
$12.