Maersk has acquired the Panama Canal Railway Company (PCRC) from Canadian Pacific Kansas City (CPKC) and U.S.-based Lanco Group/Mi‑Jack. The 47-mile railway runs alongside the Panama Canal and helps move freight between the Atlantic and Pacific Oceans. In 2024, PCRC reported $77 million in revenue and $36 million in EBITDA.
The deal was made through APM Terminals, Maersk’s port operations arm, which manages over 60 terminals worldwide.
“The Panama Canal Railway Company represents an attractive infrastructure investment in the region aligned to our core services of intermodal container movement,” said Keith Svendsen, CEO of APM Terminals. “The company is highly regarded for its operational excellence and will provide a significant opportunity for us to offer a broader range of services to the global shipping customers we serve.”
CPKC said the railway was a non-core asset and that selling it would allow the company to focus on its main business in Canada, the U.S., and Mexico.
“We are pleased to have completed this transaction with APM Terminals, a part of A.P. Moller – Maersk, a key strategic partner of CPKC’s and major customer of the Panama Canal Railway Company,” said Keith Creel, CPKC President and CEO. “The sale of this non-core asset creates value for our shareholders and reflects our commitment to optimize our assets as we focus on growing our core North American rail business through our unrivalled three-nation network connecting Canada, the United States, and Mexico.”
The Panama Canal Railway Company was a 50/50 joint venture between CPKC and the Lanco Group/Mi‑Jack, which makes cranes and other equipment for ports and railyards. Terms of the sale were not disclosed.
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