The APM Terminals Global Terminal Network is entering China’s fast-growing grain import market as part of a joint venture with Qingdao Port International.
The newly developed Qingdao Port Dongjiakou Multi-Purpose Terminal, in which APM Terminals will hold a 20% share, is located on China’s Bohai Rim in the Shandong province, on the Yellow Sea.
The Port of Qingdao is one of the world’s busiest ports, ranking seventh globally handling a total of 468 million metric tons in 2014.
According to APMT, Qingdao’s new Dongjiakou Port area is set to become a national hub of Chinese bulk and energy cargos, with a projected volume of more than 300 million metric tons handled annually in this new complex.
“China, as the world’s largest population, and second–largest economy, is a crucial center of global trade and logistics, and we are very pleased to advance our multi-port strategy of growth beyond containers in this exciting and fast-growing market,” said APM Terminals CEO Kim Fejfer .
The Qingdao port handled around 7 million metric tons of grain cargo in 2014, with continued strong growth again in 2015.
“We are fully prepared to grow with the grain market in China, and around the world, ” noted Fejfer.
APM Terminals’ Chinese presence includes interests in nine operating terminals in six ports, with a seventh facility currently in development at the port of Ningbo. APM Terminals is currently a shareholder with Qingdao Port International in five container terminals in the Qianwan section of Qingdao Port.
APM Terminals operates grain handling facilities in Callao, Peru, and Poti, Georgia.