A.P. Moller-Maersk wants part of Yangshan development
A senior executive of A.P. Moller-Maersk, operator of APM Terminals, told Reuters the company will definitely invest in the second phase of the $12 billion Yangshan offshore container terminal project.
“We will be a partner in the new terminal,” said Knud Pontoppidan, executive vice president of A.P. Moller-Maersk, to Reuters in Shanghai yesterday. “I cannot say exactly what the share is. What I am talking about is a substantial part of the terminal.”
Shanghai International Port (Group) has financed the first phase of Yangshan on its own, and has invited port companies to bid to operate the next phases of the 15-million-TEU-a-year port development, the largest such project in China.
Reuters said Maersk also plans to move some of its liner services to the Yangshan port when the first phase is completed later this month.
The second phase of the development is expected to cost $600 million to $850 million to build.