Port Finance International Events - covering global port developments

Port Finance International
Rio 2017

21 – 22 June 2017,
Rio de Janeiro

Search site

RSS
Thursday, 05 November 2015

APM Terminals signs MOU with Qingdao Port Group for Vado, Italy

APM Terminals CEO Kim Fejfer shakes hands with Qingdao Port Group Chairman Zheng. APM Terminals CFO Henrik Lundgaard Pedersen shakes hands with Mr. Wang, Head of Business Development for Qingdao Port Group after signing the Memorandum of Understanding agreement. APM Terminals CEO Kim Fejfer shakes hands with Qingdao Port Group Chairman Zheng. APM Terminals CFO Henrik Lundgaard Pedersen shakes hands with Mr. Wang, Head of Business Development for Qingdao Port Group after signing the Memorandum of Understanding agreement.

Agreement marks first overseas project in Qingdao Port’s international development.

The Hague, Netherlands– Leaders from Qingdao Port Group met with APM Terminals executives inThe Hague to sign a Memorandum of Understanding (MOU) for the APMTerminals Vado, Italy port project.  Terms and investment amount werenot disclosed. The MOU will create a new joint venture to invest in andwork with other potential partners.

APMTerminals Vado is a new terminal in northern Italy, which when openedin January 2018 will handle both containerized and liquid bulk cargoes– and integrated operationally with the existing 275,000 annual TEUcapacity Vado Reefer Terminal facility, which was acquired by APMTerminals in August 2015. 

TheItalian government is providing EUR 300 million for civil works for theproject. APM Terminals is investing EUR 150 million in the new terminalwhich will create 450 new jobs when operations commence. In 2014, theports of northern Italy’s Liguria range, including La Spezia, Genoa andSavona/Vado, handled a combined 3.5 million TEUs, representing anincrease of approximately 6% compared with the previousyear.

ThePort of Qingdao, located in the Shandong Province on the Yellow Sea, isone of northern China’s major ports. Qingdao is the 7th-busiestcontainer port in the world, and the 5th-busiest in mainland China, with throughput of 16.6 million TEUs in 2014.

APMTerminals is a minority shareholder in the Qingdao Qianwan ContainerTerminal (QQCT), investing in 2003. QQCT has holdings in Qingdao QianwanUnited Container Terminal (QQCTU) and Qingdao New Qianwan Terminal(QQCTN). QQCT handled 7.9 million TEUs in 2014, and was tied for 3rdamong the world’s most productive container terminals by the JOC Groupfor 2014, with 136 MPH with a vessel alongside. In productivity while working vessels of over 8,000 TEU capacity, QQCTtied for first place globally, with 157 MPH. QQCTU handed 2.95 millionTEUs in 2014. A major expansion of the facilities at the port is nowunderway.

Press release dated Wednesday 4 November

ABOUT US

Port Finance International provides online news and conferences worldwide. It is a platform and a community for senior industry experts and players to review and discuss the market. Our online news team provides daily coverage of international port finance, investment and operations news. A weekly e-newsletter- sent to readers free of charge - covers the key news and views of the week.

Port Finance International's conferences and training programmes are held across the globe. These events feature key industry figures and they address market challenges and trends as well as providing industry players with essential networking opportunities.

Follow us

Newsletter

Sign up for our free newsletter