ZIM Integrated Shipping Services Ltd. has sold its 47.5% shares in Nigerian 'Tincan Island Container Terminal B' project to three different buyers. Tincan Island Container Terminal B is a second largest container depot of Nigeria. Total wharf length of the port is 770m. The draught is 13m and the container yard is 24 ha. The container terminal has the capacity to store nearly 20,000 TEUs, and an annual capacity of 650,000 TEUs.

ZIM Integrated Shipping Services Ltd. sold its stake for $154 million in cash, booking a gross profit of $120 million on its investment. ZIM sold its stake to a joint venture of China Merchants, China Direct Investments Ltd., and the China-Africa Development Fund.

Selling the stake was in the long-term plan of ZIM Integrated Shipping Services Ltd., this sell will enable the company to develop its operations in Asia, North America and Europe.