Consular assistance in Russia

Russia is currently at war in Ukraine. Are you in Russia and need consular assistance? Find your country’s embassy in Russia on EmbassyPages.

Home News Moeller-Maersk invests heavily in Russian ports

Moeller-Maersk invests heavily in Russian ports

Published on 11/09/2012

Danish shipping giant A.P. Moeller-Maersk has made its first big investment in Russia, buying 37.5 percent of the country's biggest container port operator Global Ports, it said on Tuesday.

Maersk’s Dutch-based unit APM Terminals will acquire half of the 75 percent stake in Global Ports held by Russian port and logistics group N-Trans for $840 million (657 million euros) in cash and assume about $20 million of the Russian operator’s debt, APM Terminals spokesman Tom Boyd told AFP.

The deal is “the largest foreign direct investment in Russia’s transportation industry to date,” APM Terminals said in a statement.

The transaction values Global Ports at around $2.3 billion, APM Terminals said.

“With this new partnership, APM Terminals adds three container terminals in Russia, two container terminals in Finland, one inland container depot in St. Petersburg and a major oil terminal to its Global Terminal Network,” it said.

“APM Terminals will also be able to play a major role in expanding terminal capacity for future demand in Russia and neighboring countries when the right opportunities present themselves,” it said.

“It’s nice to have a port you can expand, that’s rare. We’re buying for the future,” Boyd told AFP.

The Dutch-based unit said the Russian market had shown impressive growth rates, averaging 15 percent in the past five years.

“The rapidly developing middle class, Russia’s integration with the global economy as evidenced by the recent WTO membership and the country’s wealth of natural resources will continue to fuel the growth in exports and imports in the long run,” it said.

Global Ports, which has been listed on the London Stock Exchange since 2011, reported revenues of $501 million for 2011.