ShippingWatch

APM Terminals: We believe in the US

When politicians in the state of Virginia in 2013 rejected a billion-dollar offer from APM Terminals to operate the potentially huge container port on the US East Coast, they also waved goodbye to a billion-dollar profit.

Photo: APM Terminals

When the US state of Virginia in 2013 declined to privatize the large and natural deepwater port on the US East Coast, the decision marked the de facto opening salvo of APM Terminals' efforts to leave Virginia - a port that is considered by many to hold a big potential in light of the new and bigger generation of container ships, along with the coming expansion of the Panama Canal in 2015.

In 2012 APM Terminals made an offer to operate all container terminals in Virginia, an offer worth almost USD 4 billion, but after an 18-month period of public debate concerning a privatization, a political majority in the state of Virginia declined to sell. As such, APM Terminals has opted to sell its own terminal in Virginia, which has been leased out since 2010, CFO Christian Møller Lauridsen (photo), APM Terminals, tells ShippingWatch.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
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

Sea Cargo Charter hesitates to raise climate ambitions

The climate ambitions of the Sea Cargo Charter initiative have been criticized by several members, but it seems they still don’t stand to be raised, Chair Jan Dieleman tells ShippingWatch. For over a year, the initiative has considered raising the bar.

Further reading

Related articles

Latest news

See all jobs