APM Terminals Expands Foothold in Vietnam with Stake in Northern Port

In a move to expand its footprint in Vietnam's burgeoning maritime sector, APM Terminals has acquired a 49% stake in the Hateco Hai Phong International Container Terminal (HHIT) located in northern Vietnam. The deal sees the global port operator transition from a development partner to a shareholder and operating partner alongside Vietnam's Hateco Group. The HHIT terminal, a greenfield project that has been in development for the past three years, is strategically situated to serve the growing trade volumes in northern Vietnam. According to Splash247, the terminal is expected to have an annual handling capacity of 1.5 million TEUs upon completion. 'This investment demonstrates our long-term commitment to the Vietnamese market and our confidence in the country's economic growth potential,' said Morten Engelstoft, CEO of APM Terminals. 'We look forward to working closely with our partners at Hateco Group to bring world-class terminal operations and services to northern Vietnam.' The move aligns with APM Terminals' broader strategy of expanding its global footprint and diversifying its portfolio in emerging markets. Vietnam, with its rapidly expanding economy and rising trade volumes, has become an increasingly attractive destination for maritime investment and infrastructure development. 'The partnership with APM Terminals will bring global expertise and best practices to HHIT, ensuring the terminal is well-equipped to handle the anticipated growth in container volumes in northern Vietnam,' said Nguyen Xuan Cuong, Chairman of Hateco Group. This latest development underscores the continued investment and activity in Vietnam's port and logistics sector, as global operators seek to capitalize on the country's strategic location and economic dynamism. As the maritime industry navigates an evolving global trade landscape, partnerships like this one between APM Terminals and Hateco Group are poised to play a crucial role in shaping the future of Vietnam's maritime infrastructure and connectivity.