APM Terminals, SIPG extend partnership in Zeebrugge
A.P. Moller-Maersk group-owned APM Terminals has sold a 40 percent share in its Albert II Dock South container terminal in Zeebrugge, to the Shanghai International Port Group. Financial details were witheld.
APM Terminals holds a 36-year concession to operate the Belgian terminal, which started operations in May. The terminal has a yearly capacity of 750,000 TEUs, which will rise to 2 million TEUs when it is fully developed.
APM Terminals and SIPG have a history of joint ventures dating back to 2003 with the Shanghai East Container Terminal (SECT). The partnership was extended in 2005 with a joint venture contract for the Yangshan Phase 2 project.