APM Terminals' CEO Morten Engelstoft will review the entire portfolio of ports and non-core activities, and ownership stakes are not a sacred cow to him. There could potentially be divestments of non-strategic assets as well as reducing ownership in ports, he tells ShippingWatch.
Terminal operator DP World is not pleased with the conditions for a contract renewal in Indonesia and has thus opted to withdraw as operator of the terminal when the current contract expires in two years.
One of APM Terminals' largest investments, the acquisition of Spanish Grup Maritim TCB, has yet to bring in major gains. This is evident from the annual report for the Maersk family's investment company A.P. Møller Holding, which has had to cut its dividends in half after a tough year for the Maersk Group.
The world's ports have four major business opportunities that can help them grow and play a bigger role in the global society, says Olaf Merk, port expert at OECD. Read on to learn the four opportunities.
The powerful US dockworker union ILWU has succeeded in slowing the development towards automation in Los Angeles and Long Beach. A new law holds that environmentally-friendly vehicles in the ports must not be fully automated or remote controlled in order to secure subsidies.