APM Terminals has signed an agreement for creating a joint venture with Vinalines, one of subsidiary companies of the largest Vietnamese shipping and stevedore company Vietnamese National Shipping Lines. The joint venture will concentrate on developing the Vietnamese ports.

APM Terminals and Vinalines are already cooperating at the Cai Mep International Container Terminal in Southern Vietnam where the companies are building a container port which will be able to service up to 1.1 million TEU annually. The launching of the new port is planned for the fourth quarter of 2010.

“Vietnam is demonstrating an active growth among the developing economies. And we are very happy to be able to expand our cooperation with Vinalines by developing the port infrastructure necessary for strengthening the growing role of Vietnam in the world trade” - said senior vice-president of APM Terminals Peder Sondergaard.

Deliver info: Vinalines is a state-owned Vietnamese corporation which was created in 1996 for developing the country’s port infrastructure. The company is involved in developing container terminals, general cargo terminals, as well as hub-ports. APM Terminals as a subsidiary company of A.P. Moeller-Maersk. The company manages 48 container terminals in 34 countries and employs 19 thousand people.