PORT ELIZABETH, NJ/DUBAI, UAE: September 01, 2016. Rival terminal operators APM Terminals and DP World both announced expansion plans this week.
APM is to spend US$70 million expanding its Port Elizabeth terminal to handle 13,000 TEU vessels, and DP World has signed an MoU with the Summa Group to explore investment opportunities in ports, special economic zones and inland logistics facilities in the Russian Federation.
Following a construction bid later this year, APM intends to expand its current capacity of 1.5 million TEU per annum to 2.3 million. Wim Lagaay, president of APM Terminals North America commented: "We applaud the Port Authority of New York and New Jersey and the Port Department who have been instrumental in deepening the harbor, heightening the Bayonne Bridge and listening to the changing needs of terminal operators and customers. Our investment will help Port Elizabeth become even more competitive," he added.
Meanwhile in Dubai, DP World and Summa say they will focus on the development of cutting-edge freight delivery and port processing technologies. They have also agreed to support the development and promotion of the Asia-Pacific Economic Cooperation (APEC), and Russian Far East transportation corridors, including the free ports Vladivostok and Zarubino.
DP World Group chairman and CEO Sultan Ahmed Bin Sulayem said he was pleased to discuss potential areas of collaboration with Summa as Russia remains an attractive origin and destination market with huge long-term growth prospects.
Summa chairman Ziya Magomedov (left of picture) added: "[We are] heavily focused on transport and logistics along main trade corridors and [the] partnership with DP World will only enhance such presence, traction and reach. Furthermore, I am confident that together we will also implement and deploy such high-tech solutions that will help transform these trade corridors and the transport and logistics arena as a whole."