Containers are seen on the Maersk's Triple-E giant container ship Majestic Maersk, one of the world's largest container ships, next to cranes at the APM Terminals in the port of Algeciras, Spain January 20, 2023. REUTERS/Jon Nazca/File Photo
APM Terminals, the terminal arm of Danish shipping giant A.P. Moller-Maersk, says it will invest an initial $500 million to construct a state-of-the-art container terminal near the mouth of the Mississippi River.
The company on Friday announced the execution of a letter of intent for the terminal with the Plaquemines Port Harbor and Terminal District (Plaquemines Port).
Plaquemines Port selected APM Terminals to operate the planned deepwater port in 2021.
The terminal will be constructed on a greenfield site on the west bank of the lower Mississippi River. Plaquemines Port will lease the land to APM Terminals under a 30-year agreement with extension options. The initial phase will encompass 200 acres with on-dock rail and a berth capable of handling the largest ships now traversing the expanded Panama Canal. There will be options to expand the site up to 900 acres for terminal expansion and other logistics.
APM Terminals says the new terminal, located closest to the mouth of the Mississippi River, will offer significant potential for new business and market growth by providing access to new import and export markets, as well as expanding existing markets.
“In time, this greenfield site has all the potential to evolve into one of the big ship gateways into the U.S.,” said Wim Lagaay, APM’s Senior Investment Advisor to the CEO. “This venture allows us to build from the ground up, integrating cutting-edge technologies and sustainable practices to create a modern logistics hub that prioritizes safety, efficiency, and productivity. Our collaboration with the Plaquemines Port and local stakeholders is key to developing a facility that sets new industry standards and serves as a boon to the economic vitality of the region.”
Louisiana Governor Jeff Landry praised APM Terminals for its commitment and confidence in Louisiana’s ports. “Today’s announcement is a direct investment into the businesses and industries that have built Louisiana, and I look forward to the major impact our ports will continue to have on job growth and the economy here in our state,” he said.
APM Terminals’ decision follows Ports America and Mediterranean Shipping Company’s recent commitment of $800 million towards a $1.8 billion state-of-the-art container facility in St. Bernard Parish, Louisiana. The new Louisiana International Terminal will serve vessels of all sizes and handle 2 million TEUs annually at full build-out, leveraging the deeper 50-foot Lower Mississippi River Ship Channel and avoiding height restrictions from upriver bridges.
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