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.
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