APM Terminals Buys Remaining Stake in Danish JV

APM Terminals Netherlands-based container terminal operator APM Terminals, part of Maersk Group, has reached an agreement with its joint venture partner Aarhus Service Holding for the purchase of the remaining 40% of the existing APM Terminals-Aarhus A/S facility, located on the Jutland Peninsula, Denmark. The current business entity and ownership structure was created in August 2010, when APM Terminals Aarhus and Cargo Service A/S combined their adjacent facilities in a 60/40 joint venture now operating as APM Terminals-Aarhus A/S, in which APM Terminals is the majority shareholder. The purchase price of the stake, which will give APM Terminals full ownership of the facility, was not disclosed. With a depth of 15 meters, four super post-Panamax cranes and three post-Panamax cranes, APM Terminals-Aarhus A/S is able to accommodate Ultra-Large Container Ships (ULCS) and feeder vessels alike. Container throughput at Aarhus has grown consistently over the past four years by an aggregate total of 11% from 399,000 TEUs in 2012, to 442,000 TEUs in 2015.