APM Terminals has secured a 49% stake in HHIT, enhancing its collaboration with Hateco Group after developing a $450 million terminal in Vietnam.
APM Terminals has acquired a 49 per cent stake in Hateco Haiphong International Container Terminal (HHIT) in northern Vietnam, cementing its partnership with Hateco Group after jointly developing the US$450 million facility, reports London's S&P Global.
The deal was announced just days after the two companies were named preferred bidders for a $1.8 billion container terminal project in Da Nang, about 350 miles south of Haiphong. HHIT, with a 2.2 million TEU capacity, became operational 13 months ago.
HHIT said its two-berth facility at Lach Huyen port has already surpassed initial throughput targets, handling 808,000 TEU in its first 11 months of operations.
APM Terminals stated that its role in HHIT's development included sharing best practices on safety, automation, artificial intelligence, process optimisation, and decarbonisation. The terminal has achieved an average of 30 container moves per hour and reduced truck turnaround times to 16 minutes compared with a market average of 35 minutes.
Hateco Group chairman Tran Van Ky remarked that HHIT has already set new records for berth productivity and automated gate operations. Mr. Tran added that the company looks forward to working closely with APM Terminals to further optimise operations for customers.
