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APMT's New Jersey terminal in joint venture with Toronto's Brookfield
MAERSK's port operating unit, APM Terminals (AMPT), has entered a 50:50 joint venture with Toronto's Brookfield Asset Management to run APMT's Port Elizabeth, New Jersey facility, subject to regulatory approvals.
Said APM Terminals CEO Kim Fejfer: "Brookfield is a leading global infrastructure investor, with significant infrastructure holdings in a number of countries in Latin America and Europe where we operate terminals and inland facilities."
The joint venture company, APM Terminals Elizabeth, will be equally owned by the two parties and the current APM Terminals management team consisting of Brian Clark, managing director, and his Elizabeth management/supervisory team will continue to perform their roles on behalf of the joint venture.
"We know Brookfield is an important player in our market. They share our commitment to safety, customer service and efficiency," said Mr Clark.
Earlier this month, Brookfield CEO Sam Pollock said he was exploring joint Latin American maritime investments with Japanese shipping giant Mitsui OSK (MOL) Lines.
Mr Pollock also said he had signed agreements, together with other institutional investors, to take a 50 per cent stake in MOL's TraPac terminals in Los Angeles and Oakland, but not the one in Jacksonville.
"It is a strategic relationship and MOL does not see it as a one-off transaction to raise capital. MOL sees us as a partner to work with them to find new opportunities in Panama, Colombia, Mexico or Brazil," Mr Pollock said.
"It is a 50:50 deal and we have co-control with our partners. We are very comfortable with our ability to make decisions on management. It is a typical governance structure for us," he said.
Said APM Terminals CEO Kim Fejfer: "Brookfield is a leading global infrastructure investor, with significant infrastructure holdings in a number of countries in Latin America and Europe where we operate terminals and inland facilities."
The joint venture company, APM Terminals Elizabeth, will be equally owned by the two parties and the current APM Terminals management team consisting of Brian Clark, managing director, and his Elizabeth management/supervisory team will continue to perform their roles on behalf of the joint venture.
"We know Brookfield is an important player in our market. They share our commitment to safety, customer service and efficiency," said Mr Clark.
Earlier this month, Brookfield CEO Sam Pollock said he was exploring joint Latin American maritime investments with Japanese shipping giant Mitsui OSK (MOL) Lines.
Mr Pollock also said he had signed agreements, together with other institutional investors, to take a 50 per cent stake in MOL's TraPac terminals in Los Angeles and Oakland, but not the one in Jacksonville.
"It is a strategic relationship and MOL does not see it as a one-off transaction to raise capital. MOL sees us as a partner to work with them to find new opportunities in Panama, Colombia, Mexico or Brazil," Mr Pollock said.
"It is a 50:50 deal and we have co-control with our partners. We are very comfortable with our ability to make decisions on management. It is a typical governance structure for us," he said.
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