APM Terminals Rotterdam to be sold to Hutchison
APM Terminals and Hutchison Ports have signed a letter of intent for the takeover of APM Terminals Rotterdam, the older of APMT’s two Rotterdam terminals
The conventional, straddle carrier-direct 2.5M TEU terminal will be acquired by Hutchison, subject to permission of the works council, trade unions and the Dutch merger and monopolies body.
The "heads of agreement" features a five-year volume guarantee from Maersk Line and a ban on compulsory dismissals over the next four years. Also the terminal must remain an “independent” organisation “for the time being,” meaning that it would not be incorporated into Hutchison’s subsidiary ECT directly.
The 100-ha APMT-Rotterdam terminal is the facility with which ECT started operating on its Maasvlakte I Delta Peninsula in the early 1980s. The terminal had to be sold by ECT by order of the European Commission as a condition of the permit for ECT and its then partner P&O Nedlloyd to build Euromax.
Source: WorldCargo News