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Go ahead for APM Terminals in Germany
2 July 2008
The European Council has approved APM Terminals’ acquisition of a 30 per cent stake in a container terminal under construction in the German port of Wilhelmshaven, according to Cargonews Asia.
German terminal operator Eurogate has the concession to run the JadeWeserPort from 2012, and APM Terminals would take on joint liability for Eurogate's future obligations at the terminal. In return, 49 per cent of the terminal's capacity would be dedicated to APM Terminals and its affiliates, including Maersk Line.
The European Council was worried that the two AP Moller-Maersk subsidiaries, APM Terminals and Maersk Line, would jointly achieve a great share of the northern European container market by signing the deal, but ended up approving the take-over.
The Council said "the total volumes concerned were rather low compared with the total volume on the trades to and from northern Europe on the one hand, and of the area's container handling capacities on the other".
APM Terminals is the world’s second largest operator of container terminals with over 50 container terminals in 31 countries. The company employs 19,000 workers.
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