Børsens News Service in English
US approval of gigantic lease with APM Terminals
25-06-2010
09:45
The board of commissioners of the Virginia Port Authority approved yesterday one of the biggest and most significant transactions in its history by authorizing a lease with the A.P.Møller-Mærsk Company, APM Terminals for use of its cutting-edge facility in Portsmouth.
The board of commissioners of VPA voted unanimously in favor of a 20-year lease, valued at USD 865 million.
The terminal was built by APM Terminals in 2007 at a cost of about USD 500 million. Like the neighbouring terminals it has been affected by a significant overcapacity as the deep recession resulted in a strong fall of cargo volumes, whereas the investment had been based on an annual growth of the world trade of about 8 per cent . Direkt/BNS
The board of commissioners of VPA voted unanimously in favor of a 20-year lease, valued at USD 865 million.
The terminal was built by APM Terminals in 2007 at a cost of about USD 500 million. Like the neighbouring terminals it has been affected by a significant overcapacity as the deep recession resulted in a strong fall of cargo volumes, whereas the investment had been based on an annual growth of the world trade of about 8 per cent . Direkt/BNS
*****||*****US approval of gigantic lease with APM Terminals*****||*****The board of commissioners of the Virginia Port Authority approved yesterday one of the biggest and most significant transactions in its history by authorizing a lease with the A.P.Møller-Mærsk Company, APM Terminals for use of its cutting-edge facility in Portsmouth.
The board of commissioners of VPA voted unanimously in favor of a 20-year lease, valued at USD 865 million.
The terminal was built by APM Terminals in 2007 at a cost of about USD 500 million. Like the neighbouring terminals it has been affected by a significant overcapacity as the deep recession resulted in a strong fall of cargo volumes, whereas the investment had been based on an annual growth of the world trade of about 8 per cent . Direkt/BNS*****||*****
News from borsen.dk
