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APM Terminals wins bid for Suape terminal in BrazilAPM Terminals wins bid for Suape terminal in Brazil

APM Terminals (APMT) made the highest offer of $88m in auction by Brazil fior an internal area in the South Pier of the Atlântico Sul Shipyard (EAS), en Suape in the state of Pernambuco.

Michele Labrut, Americas Correspondent

August 1, 2022

2 Min Read
Complexo Industrial e Portuário de Suape
Photo: Wikipedia Commons

APMT’s $88m offer was $963,000 higher than ICTSI’s Tecon Suape and a local joint venture with International Container Terminal Services Inc (ICTSI)

As the auction process took place amid a judicial recovery by EAS, the operation still needs to be validated by the Ipojuca Court, which organised the sale of areas to pay shareholders’ debts.

APMT, ternminal arm of Maersk, said in a statement, the purpose was “to develop and operate a container and general cargo terminal…After completing the stages of the judicial auction and final agreements between EAS and APM Terminals, the company expects to be officially declared the auction winner.”

“The transaction closing is still subject to obtaining the suitable regulatory approvals and certain necessary licences and authorisations to install and operate the new terminal.”

“With the project, APM Terminals expects to invest up to $500m (BRL 2.6bn) in the new terminal, which will have an initial capacity of up to 400,000 teu, increasing the port complex’s capacity by 55%.”

“Once all licences are granted, the company plans to finish construction in 24 months and begin operations in late 2025, when the Suape Port’s dredging of the access channel and manoeuvring basin should be completed,” informed the company.

Related:Privatisation postponed – Port of Itajaí, Brazil

“This is a water-shedding moment in the history of Pernambuco. The sale will allow the development of an important hub. One of the largest shipowners in the world will put Suape on another level. As a result, we will have more competition and competition,” said Roberto Gusmão, president of the port industrial complex.

Roberto Gusmão added that the fruit produced from the São Francisco Valley and other cargo could benefit from the weekly lines. “The port had these routes during the outset of Tecon Suape. Today, we don’t have them; these challenges may be eliminated with new routes and commodities."

About the Author

Michele Labrut

Americas Correspondent

Michèle Labrut is a long-time Panama resident, a journalist and correspondent, and has continuously covered the maritime sector of Central & Latin America.

Michèle first came to Panama as a press attaché to the French Embassy and then returned to the isthmus as a foreign correspondent in the 1980s.

Author of Seatrade Maritime's annual Panama Maritime Review magazine and of several books, Michèle also wrote for Time magazine, The Miami Herald, NBC News and the Economist Intelligence Unit. She has also collaborated in making several documentaries for the BBC and European and U.S. television networks.

Michèle's profession necessitates a profound knowledge of the country, but her acumen is not from necessity alone, but a genuine passion for Panama.

In 2012 she was awarded the Order of Merit (Knight grade) by the French Government for her services to international journalism and in 2021 the upgrade to Chevalier grade.

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