APM Terminals Inaugurates New Container Terminal in Costa Rica
- Business & Finance
APM Terminals Moín, a new container terminal in the Caribbean Sea just off the coast of Costa Rica, was inaugurated last week.
As informed, the completion of the terminal will enable products to be shipped on transatlantic routes to European and Asian markets without transshipment.
The project represents a total investment of USD 1 billion and is built on a 40-hectare artificial island. The terminal has a 650-meter long pier and a container yard with the capacity to hold 26,000 TEUs, including power connection capacity for 3,800 refrigerated containers.
The construction of the terminal in Costa Rica was completed by a consortium of Van Oord and BAM International.
According to the terminal operator, the region will attract a very high percentage of the ships that transit through the Panama Canal. The number of shipping routes that reach the APM Terminals Moín is projected to increase by as much as 285 percent.
This 100% owned greenfield development is part of the 30-year concession to operate the terminal.
“We are proud that the country has trusted APM Terminals with the mission of developing and operating this amazing port. A concession that also brings socioeconomic opportunities to the community, the country and the region,” Kenneth Waugh, Managing Director of APM Terminals Moin, commented.
The six gantry cranes and the 29-yard cranes represent a USD 110 million investment and will allow the terminal to continuously perform an average of 180 movements per hour for loading and unloading. These efficiency standards will significantly reduce vessel service times from 40 hours to just 15 hours.