APM T re-bids to allay talk of favouritism for Virginia Ports CT job

APM Terminals, a subsidiary of Denmark's AP Moller Group, has submitted a revision to its proposal to operate terminals owned by the Virginia Port Authority (VPA).

The about-turn has been prompted by letters from some container shipping lines that raised questions about whether the company might in some way favour through its association with Maersk if it were to operate the port.

The company said it is committed to honouring existing contracts, offering non-discriminatory pricing and operational services, and that there will be significant oversight by both the VPA and an independent audit firm of its choosing.

The VPA included the pledges in an addendum to APM Terminals offer that was made in May to operate the Virginia terminals under the state's Public-Private Transportation Act, reported American Shipper.

Eric Sisco, the president of APM Terminals Americas, said the commitments in the company's addendum "reflect our global business practices and we are proposing to include them as enforceable obligations in the concession agreement. The focus of our proposal is to provide the Commonwealth with the best financial and commercial proposition to ensure the growth of Virginia's port."

APM Terminals says its proposal, which includes turning over its container terminal in Portsmouth to Virginia, is estimated to be worth between US$3 billion and $4 billion.