Following a three-year dispute over the awarding of two container-terminal concessions, the Rotterdam Port Authority and Europe Container Terminals (ECT) have decided to let the disagreement drop.
PTI previously reported that ECT was able to claim around US$1.2 billion in future lost earnings against the Port of Rotterdam Authority for awarding concessions to two terminal operators for the new terminals compromising Maasvlakte II.
According to the Journal of Commerce, ECT lost its case in September, 2014 when the Rotterdam district court said that the port authority did not abuse its power when it allocated the concessions to APM Terminals and a consortium fronted by DP World.
In a joint statement recently, Rotterdam and ECT said: “[We] have come to an understanding that it is in the mutual interest of both companies to cooperate, taking into account their respective rights and obligations.
“[This] not only marks the end to the lawsuit, but also the beginning of jointly addressing the challenges the container sector is facing in the years to come.”
