The Danish A.P. Moller-Maersk owned global terminal operators APM Terminals, which is operating four container terminals in the U.S and 62 globally, has signed a letter of intent with Plaquemines Port Harbor and Terminal District (Plaquemines Port), to build a container terminal on the West Bank of Plaquemines Parish, Louisiana, United States.
The new container terminal will be the port closest to the mouth of the river saving 3 hours round trip to the nearest proposed terminal and it will have the widest ship turning radius.
The letter of intent foresee that the Plaquemines Port will lease the land to APM Terminals under a 30-year agreement with extension options, and APM Terminals estimates the initial investment in terminal infrastructure will be around $500 million, which will be privately funded.
The initial phase will encompass 200 acres, on-dock rail, and a berth capable of handling the largest ships now traversing the expanded Panama Canal (14,000 TEU), with options to expand the site up to 900 acres for further terminal expansion.
Louisiana Governor Jeff Landry said: “APM Terminals is a world leader in container terminal operations. This major commitment shows the market’s tremendous confidence in Louisiana as the home of vibrant, growing port activity. Today’s announcement is a direct investment into the businesses and industries that have built Louisiana, and I look forward to the major impact our ports will continue to have on job growth and the economy here in our state.”
Wim Lagaay, APM Terminals’ senior investment advisor to the CEO, noted that “In time, this greenfield site has all the potential to evolve into one of the big ship gateways into the U.S..”
He adds that, “This venture allows us to build from the ground up, integrating cutting-edge technologies and sustainable practices to create a modern logistics hub that lifts standards of safety, efficiency, and productivity. Our collaboration with the Plaquemines Port and local stakeholders is key to developing a facility that sets new industry standards and serves as a boon to the economic vitality of the region.”
“This will truly make Plaquemines ‘The Louisiana Gateway Port’. The geographic and strategic advantages are overwhelming,” said Charles D. Tillotson, executive director of the Plaquemines Port.
“This development agreement is a testament to the confidence that APM Terminals has in Plaquemines’ key advantages. It will greatly increase global commerce flowing through Louisiana,” pointed out Brian Champagne, Port Commission chairman.
