Initial agreement reached on sale of Rotterdam terminal to Hutchison Ports
DANISH shipping giant, A P Moller-Maersk's port operations arm, APM Terminals, says it has reached an initial agreement to sell one of its two Rotterdam container terminals to Hong Kong's Hutchison Ports, the world's largest independent terminal operator
15 January 2020 - 19:00
The deal is based on an agreement that, in the short term, APM Terminals Rotterdam will continue to exist as an independent organisation. It includes a five-year cargo volume guarantee from A P Moller-Maersk and a guarantee from Hutchison of no forced terminal staff redundancies within four years. For the long term, Hutchison Ports has indicated that they are interested in seeking an extension of the terminal's lease, reports The Maritime Executive, Fort Lauderdale, Florida.
With an annual capacity of 3.25 million TEU, APMT Rotterdam is one of the largest container terminals in Europe. It is an important transshipment hub for the UK, Scandinavian and Baltic markets, with strong intermodal connections to inland continental Europe. Hutchison already owns the neighboring ECT Delta Terminal, raising the possibility of synergies.
APMT will be keeping its ultra-modern 2.7 million TEU Maasvlakte II terminal, which is located about one mile to the west of APMT Rotterdam.
APMT is in talks over the sale agreement with its trade unions and with its Works Council (EWC), a labour consultative body required for some multinational corporations in the Netherlands. It will also have to request approval from anti-trust regulators.
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