APM Terminals, the terminal operating arm of the Maersk Group, has posted a net profit of US$111 million for 2007, a 30 per cent rise on 2006 earnings.
Revenue increased by 22 per cent for the year to US$2.52 billion, while profits from terminals that have been operating for more than a year, grew by 30 per cent on average, a company statement said.
Netherlands-based APM Terminals has a large presence in the US market, where volumes dropped by nine per cent in 2007 compared to the previous year. Volumes increased by 20 per cent in the rest of the portfolio, leading to a 13 per cent volume growth for APM Terminals globally with 1.4 million TEU handled in 2007.
Within this total, 34 per cent of container volumes were handled for customers other than Maersk Line, which is said to be a higher ratio than in previous years.
"We are currently providing service to over 60 shipping lines around the world," said APM Terminals CEO Kim Fejfer, "and whereas the commercial relationship with Maersk Line remains very strong, we are furthering our relationship with other major shipping lines as well."
APM Terminals invested US$853 million during 2007 to upgrade existing terminals and open new ones in Tangier (Morocco), Portsmouth (Virginia), Le Havre, Tianjin and Xiamen.
In addition, APM Terminals took over the operation of the container terminals in Tema (Ghana) and Luanda (Angola). The Portsmouth terminal in Virginia represents a US$500 million investment in a state-of-the-art facility with a high degree of automation and environmental protection.
Furthermore, several terminal projects are under various stages of development, to ensure APM Terminals will be able to meet growing demands and support further growth in world trade, the release added.
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