According to APM Terminals it was specific demands from port authorities that put a stop to the company's announced joint venture with capital group Brookfield Asset Management pertaining to ownership and operation of Port Elizabeth in New Jersey.
The requirements to the partnership were too much for the two parties, who announced Wednesday that the plans for the joint venture had been shelved, APM Terminals’ chief executive in North America, Eric Sisco, tells ShippingWatch. He does not wish to get into the specifics of those requirements, however.
Get full access for you and your coworkers.Start a free company trial today
Already a member? Log in.