Maersk Port Unit Invests $500M In Chinese Port Expansion

Law360, New York (June 15, 2012, 7:39 PM EDT) -- APM Terminals, the port-operating unit of Danish shipping giant A.P. Moller-Maersk AS, will invest 3 million kroner ($508 million) in a project to expand China's third-biggest port, a move the company on Friday called a natural extension of its strategic focus on China's growing logistics sector.

APM Terminals will buy a one-quarter stake in the Ningbo Port Co. Ltd. project, which will add three new cargo berths by December 2014 to expand container shipping and vessel capacity at the port, China's fastest growing.

Also on Friday,...
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