Maersk unit finalizes Shanghai JV

Logistics

5 December 2003

APM Terminals, a subsidiary of the Denmark-based Maersk Group, finalized an agreement with Shanghai International Port Group to set up a joint venture to operate the fourth phase of Shanghai's Waigaoqiao port.

APM will have a 49 percent stake in the joint venture, with SIPG holding the remainder. Financial details were not released.