ShippingWatch

New Jersey halted Maersk’s port partnership

It was a number of specific requirements from the New Jersey port authorities that ultimately made a planned joint venture between APM Terminals and capital group Brookfield impossible, APM Terminals tells ShippingWatch.

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.

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