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APM Terminals ups Vietnamese investments

APM Terminals ups Vietnamese investments

Hanoi: Global ports operator APM Terminals has signed a new JV agreement with Vinalines to develop Vietnamese ports, writes Portworld. Vinalines is part of the country's largest shipping line and terminal operator Vietnamese National Shipping Lines.

APM Terminals said on Friday that Vinalines had "embarked on the development of general cargo, container terminals and transshipment hubs, seeking to partner with a company having significant operational experience, a strong reputation and a long-term view to the market".

APM Terminals and Vinalines already have a partnership in Cai Mep International Container Terminal (CMIT) in southern Vietnam, building a 1.1 million TEU port near Ho Chi Minh City, slated for opening in the fourth quarter of 2010.

According to APM Terminals, Vietnam "ranks as one of the fastest growing economies in the world after China and India, making it a priority for the world's shipping lines."

APM Terminals runs a global terminal network spanning 48 ports in 34 countries, and leverages significantly on the strength of the AP Moller-Maersk group.  [17/09/09]