APM Terminals sells part of Vado stake

APM Terminals (APMT) has sold 49.9% of its stake in two terminals in Vado, Italy, to COSCO Shipping Ports and Qingdao Port International Development, while retaining the remaining majority share.

APMT had purchased the existing Vado Ligure Reefer Terminal in August 2015, with an annual capacity of 275,000 teu and more than half a million tonnes of refrigerated fruit.

The move follows the recent realignment of the Maersk Group’s strategy, which included incorporating APMT in its transport segment, and setting the terminal operator’s overall emphasis on significant cost-cutting.