APM Terminals Signs Ningbo Agreement
15 June 2012
• 3rd largest port in China with 14.5 million TEU
• Fastest growing, gateway port to Eastern China
• 6th largest container port in the world
“This agreement creates important, new port capacity needed for our customers in one of the fastest growing container markets in the world. We look forward to working closely with our partners in the Ningbo Port Group”, stated Henrik Lundgaard Pedersen, CEO of APM Terminals Asia-Pacific region, based in Shanghai, China.
Ningbo is a major gateway port in Eastern China and the Zhejiang Province. It is the 6th largest container port in the world with strong growth. Container throughput in Ningbo grew 17% annually from 2006 to 2010 and reached 14.5 million TEU in 2011. At the current growth rate, Ningbo capacity utilization will exceed 80% by the end of 2012, and the Meishan project for berths 3-5 represents the future source of capacity. Meishan Container Terminal is the newest container terminal in Ningbo. It has five deep water container berths with designed capacity of 3 million TEU situated in the Meishan Bonded Port Zone.
Ideal market access
Zhejiang is located in the southern part of the Yangtze River Delta on the southeast coast of China. It faces the East China Sea on the east and neighbors Fujian on the south. Ningbo derives 95% of its growth from Zhejiang province which is the 4th largest economy and 5th largest export/import hinterland in China, serving a population of 55 million. Zhejiang province boasts the most vibrant private manufacturing businesses in China, which export a wide range of products ranging from auto parts to cigarette lighters. Exports from the province have gained significant competitive advantage due to the efficiency of private ownership and scale of economy from industry clustering. As a result, Ningbo Port is the fastest growing container gateway in China.
Key Facts for Ningbo’s Meishan Container Terminal Phase 1, Berth 3, 4, 5):
Quay Length 1,080 meters
Yard 72.3 hectares
Depth alongside 17.5 m eters
Maximum Capacity 2.8 million TEU
Concession 50 years
About APM Terminals – providing the port and inland infrastructure to lift global trade
APM Terminals’ Global Terminal Network of ports and inland services provide the infrastructure for the growth of international trade, 90% of which travels by sea. International commerce is an economic growth engine, creating jobs, lifting economies and improving people’s lives around the world.
With world headquarters in The Hague, Netherlands, the company’s core expertise is the design, construction, management and operation of ports, terminals and inland services with a Global Terminal Network of 62 port facilities in 36 countries and Inland Services operations in over 150 locations in 46 countries.
In 2011, the company had revenues of USD 4.7 billion, net profit of USD 649 million and committed over USD 3 billion in new port developments and expansions - and expects to do similar in 2012. To give further context to APM Terminals global business position in The Netherlands, based on its annual revenue of $4.7 billion in 2011, APM Terminals would rank 19th among the AEX Index companies currently listed on Amsterdam’s Euronext stock exchange.
APM Terminals press release