APM Terminals (APMT) will sell its Charleston, South Carolina stevedoring business to SSA Cooper in a strategic move that boosts focus on the company’s core container terminal business.
PTI previously reported that APMT will be backing a US$15 billion campaign in Oman for the development of infrastructure at the port by the year 2030.
The amount of the sale was not disclosed. However, APMT’s long-term strategy is to optimise the company’s portfolio and simplify business activities that are non-core assets.
Jack Craig, APMT’s Senior Vice President, said: “We are proud of the role Charleston has played in our company’s history. Our talented people, service capabilities and operational performance make it a perfect fit with SSA Cooper.
“Equally important, we have enjoyed the support of our customers and excellent relations with Jim Newsome and the South Carolina Ports Authority leadership through the years and Senator Larry Grooms, Chair of the Senate Transportation Committee.”
APM Terminals currently operates seven container terminals in the US, including Elizabeth, New Jersey; Jacksonville, Florida; Los Angeles, California, and Tacoma, Washington.
The terminal giant has recently launched a trucker safety campaign in a pro-active move that will see truckers staying inside their vehicles while stationed at ports in a bid to reduce the number of accidents.