Russian Global Ports performs major impairment

Russian port operator Global Ports, of which APM Terminals owns 37.5 percent, performs a USD 58 million impairment on its Saint Petersburg business, due to lower growth than expected.

Photo: Colourbox

Russian port operator Global Ports, listed on the London Stock Exchange and partially owned by Maersk through APM Terminals, finished 2012 with a net result 16 percent lower than last year. The reason is an impairment performed on the Global Ports container terminal in Saint Petersburg, writes news agency Reuters.

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