As a result of a loss of patience with the entire bidding process in Piraeus Port, Maersk’s terminal operating arm APM Terminals (APMT) has stepped out as a potential bidder, according to Shipping Watch.
As the sole bidder, it appears that Cosco will be the winning bidder and effectively claim its 67% stake in Piraeus Port Authority.
This will add to its global presence on the back of the recent clearing of its merger with China Shipping Container Lines, and help it to survive in a climate wrangled by low freight rates and overcapacity.