APM Terminals increases stake from 25% to 33% at Ningbo port
Shanghai: Ningbo Port has announced that APM Terminals, the ports arm of Denmark's A.P. Moller-Maersk, has risen its stake in its jv at Ningbo Meishan from 25% to 33%.
The jv set up by Ningbo port and APM is for operation of berths 3-5 of Meishan container terminal phase one, with a total investment in the project of RMB4.29bn.
The Chinese port said in an statement that, the stake increase is attributable to the confidence of APM in Ningbo port, which could further prompt growth in container throughput and the development of Ningbo port as the centre for Maersk Line in Northeast Asia. [14/06/13]
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