Major China Terminal Signs Up with APM

Press Release
Monday, June 18, 2012

APM Terminals sign an agreement with Ningbo Port Group to jointly invest & share in Ningbo’s Meishan Container Terminal in East China

Leaders from the Ningbo Port Group and APM Terminals were on hand in Copenhagen to sign a major agreement that creates a new level of cooperation in the fastest growing, deepwater, container port in the world.

Ningbo is a major gateway port in Eastern China and the Zhejiang Province. It is the 6th largest container port in the world with strong growth. Container throughput in Ningbo grew 17% annually from 2006 to 2010 and reached 14.5 million TEU in 2011.

At the current growth rate, Ningbo capacity utilization will exceed 80% by the end of 2012, and the Meishan project for berths 3-5 represents the future source of capacity.

Meishan Container Terminal is the newest container terminal in Ningbo. It has five deep water container berths with designed capacity of 3 million TEU situated in the Meishan Bonded Port Zone. Ideal market access Zhejiang is located in the southern part of the Yangtze River Delta on the southeast coast of China.

The new agreement reflects a 75%/25% (Ningbo Port Group/APM Terminals) share to jointly invest and operate berths 3, 4, 5, comprising a one kilometer quay in Ningbo’s Meishan Container Terminal.

Once constructed, the new facility will become operational by December 31, 2014. “This agreement creates important, new port capacity needed for  customers in one of the fastest growing container markets in the world. APM look forward to working closely with our partners in the Ningbo Port Group”, stated Henrik Lundgaard Pedersen, CEO of APM Terminals Asia-Pacific region, based in Shanghai, China.


 


 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

FPSO Petrojarl Knarr Delivered to Norway

Three tugs of Fairmount Marine have towed the brand new FPSO Petrojarl Knarr from South Korea to Norway in just 61 days. Petrojarl Knarr, one of world’s largest

South Carolina Ports Container Volume Up by 13%

SC Ports Authority reported container volumes up 13 percent fiscal year to date, a strong start to the first two months of the fiscal calendar. The SCPA handled 163,

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

Container Ships

South Carolina Ports Container Volume Up by 13%

SC Ports Authority reported container volumes up 13 percent fiscal year to date, a strong start to the first two months of the fiscal calendar. The SCPA handled 163,

Global Ship Lease to Acquire Containership

Global Ship Lease, Inc. has  announced  that it has agreed to acquire a 8,063 TEU containership from a leading container liner company for a purchase price of $55 million.

Maersk Sees US Approval of Shipping Alliance as Formality

U.S. regulatory approval of a proposed shipping alliance involving AP Moeller Maersk should be a formality, the Danish company's chief executive said on Wednesday.

Logistics

Exxon: U.S. to Allow Wind Down Ops in Russian Arctic

U.S. oil major Exxon Mobil said on Friday the U.S. Treasury Department granted it a license to wind down operations on a drilling well in the Kara Sea in the Russian Arctic.

Russia: Exxon Still Drilling in its Arctic

ExxonMobil is still drilling in the Russian Arctic, a Russian minister said on Friday, in move that if confirmed will anger Washington after the U.S. administration

FPSO Petrojarl Knarr Delivered to Norway

Three tugs of Fairmount Marine have towed the brand new FPSO Petrojarl Knarr from South Korea to Norway in just 61 days. Petrojarl Knarr, one of world’s largest

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1979 sec (5 req/sec)