ShippingWatch

Cosco's stake in Italian terminal to secure contracts for APM Terminals

Originally, China's Cosco was not meant to have a big owner's share of APM Terminals' new, large container terminal in Italy. But without the deal, it was not certain that the company would have become a customer, says the latter's CEO Morten Engelstoft, who expects more similar deals.

APM Terminals CEO, Morten Engelstoft, (number two from the right in the front row) helped inaugurate the Vado Lugire terminal in Italy. | Photo: PR-FOTO

A new collaboration on a major Italian terminal with Chinese competitor Cosco is to send more business from the company into the arms of Maersk's port division, APM Terminals.

A month ago, APM Terminals opened container terminal Vado Ligure in Italy. The Maersk company owns 50.1 percent of the terminal, while Cosco has received an owner's share of 40 percent and Qingdao Port International owns 9.9 percent.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

IKEA sustainability manager: Green solutions should not cost more

As a starting point, furniture giant Ikea won't accept that green solutions become more expensive than polluting solutions, says Elisabeth Munck af Rosenschöld, Global Sustainability Manager for Supply Chain Operations, to ShippingWatch. Ikea is part of an alliance of global companies that calls for green shipping by 2040.

Long Beach logjam of container vessels grows to 80

Bottlenecks at major US container ports in continue to grow, with the ports of Long Beach and Los Angeles being the worst hit at the moment. Here, 80 vessels are waiting to berth, according to new figures form Vessels Value.

Further reading

Related articles

Trial banner

Latest news

See all jobs