APMT takes stake in Santos terminal project

APMT takes stake in Santos terminal project    APM Terminals has acquired a 50 percent stake in a deepwater container terminal project in Santos, Brazil, the company said Wednesday.
   APMT, the terminal operating subsidiary of the A.P. Moller – Maersk Group, will hold half of the Brasil Terminal Portuario, a 2.2 million-TEU terminal scheduled to open in 2013.
   'In Brazil, one of the world’s fastest-growing markets, port modernization represents a huge opportunity,' said Kim Fejfer, chief executive officer of APM Terminals. 'The new agreement is an important step in offering our customers better access to Brazil markets.”
   The Port of Santos serves the state of Sao Paulo and its hinterland, where roughly half of Brazil’s GDP is generated. More than 25 percent of Brazil’s trade passes through the port.
   APM Terminals also operates terminals in the Brazilian ports of Pecem and Itajai.
   The other 50 percent will owned by terminal developer, Brazil-based Terminals Investment Ltd. APMT said Mediterranean Shipping C. will be the anchor shipping line for the terminal. MSC 'is also planning to move volume from other locations to Santos,' the company said.
   The terminal would have three berths and offer water depth of 12 to 14 meters.
   Financial terms of the deal were not disclosed.