High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
APM Terminals signed a Memorandum of Understanding (MOU) today with the Government of Ghana, representing a private investment in excess of USD $1 billion for the expansion of the container terminal at Tema Port. With this expansion, the port’s annual container throughput capacity will increase to 3.5 million TEUs, up from 670,000 TEUs in 2013.
The deal was signed through Meridian Port Services (MPS), the joint venture between APM Terminals, Bolloré Africa Logistics (Meridian Port Holdings) and the Ghana Ports and Harbours Authority (GPHA)
APM Terminals says the expansion plans include the development of four deep water berths and an access
channel able to accommodate larger vessels now entering the West African trade lanes. The company also says a
six-lane modern highway will also be constructed between the port at Tema and Accra, to enhance the movement of cargoes into and out of interior points.
“MPS is a very successful private/public partnership which has brought global trade to local shores. APM Terminals looks forward to take the next step to drive the development of a world class port expansion which can serve the country of Ghana in the coming decades” said APM Terminals Africa-Middle East Regional head, Peder Sondergaard.
Beyond Ghana, APM Terminals is investing in new terminal projects at the Port of Abidjan, Ivory Coast, and Badagry, Nigeria.
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