ITF Unions in Maersk
Go ahead for APM Terminals in Miami
5 August 2008
The joint Miami Port terminal operating agreement approved.
The Miami-Dade Board of County Commissioners has approved APM Terminals North America and CMA CGM's subsidiary Terminal Link's joint venture to operate a marine terminal at the Port of Miami. The 15-year agreement is renewable for two five-year periods.
Terminal Link's (Miami) and APM Terminals' joint venture company – South Florida Container Terminal – will operate in one of North America's busiest ports. Terminal Link will acquire a 51 per cent stake in the company while APMT will hold 49 per cent.
The container terminal will operate on the 71-acre site currently held by APMT. It comprises a 5,000-foot quay, of which 2,000 feet will be offered priority berthing to the venture, and eight gantry cranes of which four are allocated priority use by the venture. The terminal's 40-foot draft will be deepened to 50 feet by 2015.
Initially, the terminal will service Maersk Line, whose services account for the second highest throughput of all cargo carriers at the port, and CMA CGM, which currently has five liner services calling at Miami.
The agreement represents a minimum total investment of US$ 25 million toward terminal infrastructure upgrades and improvements.
APM Terminals is the world’s second largest terminal operator with over 50 container terminals world-wide. The company ships thousands of containers every year to and from the USA.
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