APM Terminals in 1 million TEU Vietnam JV
APM Terminals announced today that the company will build a new container terminal at the deepwater port of Cai Mep, in conjunction with Saigon Port Company. APM Terminals will hold a 49% stake in the venture, with the remainder held by Saigon Port.
The port of Cai Mep is just one hour's steaming time from the main shipping lane and offers a draft of 14 metres, allowing for larger vessels to come into port.
Construction on the terminal is expected to begin later this year, with the facility expected to be operational from mid-2009.
A spokesman for APM Terminals confirmed to Portworld that once completed the terminal would have a handling capacity of one million TEUs, via its 600 metre berth.
The spokesman could not reveal at this time any further details relating to equipment at the terminal or any financials relating to the agreement.
APM Terminals said in a statement that the terminal would serve Vietnam's future in global commerce.
"The Vietnam market, with its 83 million people, has over the recent years shown significant growth and untapped potential as a manufacturing site in Asia," the company said in a statement.
APM Terminals, a subsidiary of the AP Moller-Maersk Group owns and operates more than 40 terminals globally. The company's Asian facilities include terminals in China, Taiwan, Japan, Thailand, India, Pakistan and Malaysia, but the new facility would be its first in Vietnam.
According to the Business Times, Vietnam handled 2.2 million TEUs in 2005, the main bulk of which was handled through its two main box terminals (both river-based) on the edge of Ho Chi Minh City.
Both the Vietnamese government and investors have turned their attention to the Vietnamese port sector. Both DP World and Sumitomo Corp have pledged millions towards the development of port projects in the country.
The port of Cai Mep is just one hour's steaming time from the main shipping lane and offers a draft of 14 metres, allowing for larger vessels to come into port.Construction on the terminal is expected to begin later this year, with the facility expected to be operational from mid-2009.
A spokesman for APM Terminals confirmed to Portworld that once completed the terminal would have a handling capacity of one million TEUs, via its 600 metre berth.
The spokesman could not reveal at this time any further details relating to equipment at the terminal or any financials relating to the agreement.
APM Terminals said in a statement that the terminal would serve Vietnam's future in global commerce.
"The Vietnam market, with its 83 million people, has over the recent years shown significant growth and untapped potential as a manufacturing site in Asia," the company said in a statement.
APM Terminals, a subsidiary of the AP Moller-Maersk Group owns and operates more than 40 terminals globally. The company's Asian facilities include terminals in China, Taiwan, Japan, Thailand, India, Pakistan and Malaysia, but the new facility would be its first in Vietnam.
According to the Business Times, Vietnam handled 2.2 million TEUs in 2005, the main bulk of which was handled through its two main box terminals (both river-based) on the edge of Ho Chi Minh City.
Both the Vietnamese government and investors have turned their attention to the Vietnamese port sector. Both DP World and Sumitomo Corp have pledged millions towards the development of port projects in the country.
Shelley Kerr | Thu Aug 3 12:45 GMT 2006