Maersk prepared to pay USD 1.3 billion in cash for Virginia Port

APM Terminals is willing to pay USD 1.3 billion in cash up-front as part of its payment for the contract to operate the Port of Virginia. It is evident from the bids made public that the Maersk offer is far bigger than its competitors’.

1.3 billion dollars. This is what Maersk-owned APM Terminals is ready to pay up-front as part of the payment to the state of Virginia, USA, in the current bidding war for the rights to operate the Port of Virginia. This has become apparent as authorities presented the APM Terminals bid to the public on Wednesday.

In addition to the cash figure, the APM Terminals bid includes monthly concession payments to the state of Virginia, as well as APM Terminals offering to hand over its Portsmouth terminal to the state of Virginia.

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

ECSA's new secretary general balances on a razor's edge

ECSA’s newly appointed secretary general, Sotirs Raptis, has taken up the helm of an organization criticized by its own members for being invisible. In an interview with ShippingWatch, Raptis explains how he intends to alter that image.

Related articles

Latest news

See all jobs