Hong Kong's South China Morning Post reported the news Friday and it was confirmed Monday to Reuters by Maersk China Managing Director Jens Eskelund.
Maersk sister company APM Terminals has a 20 percent stake in the Guangzhou South China Oceangate Container Terminal, one of two in Nansha, a deepwater container complex that's officially part of the Port of Guangzhou.
Nansha has been aggressively growing in recent years as it taps into burgeoning demand in the western Pearl River Delta — cargo that had moved by barge to Hong Kong or Shenzhen.
Maersk indicated the move is one to develop a third hub in South China. APMT last year sold a 10 percent stake in Yantian International Container Terminal, the largest single facility in the Port of Shenzhen.
Hong Kong's container terminal facilities are among the most productive in the world, but it also has some of the highest tariffs in Asia. Nansha has reportedly been pricing their port services lower than Yantian and Hong Kong in an attempt to lure cargo.
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The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
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