Tuesday, July 24, 2012
APM bid for Virginia's terminal operations may be raised at meeting
A Tuesday meeting of the Virginia Port Authority board of directors may help to clarify recent buzz about the APM Terminals bid to take over state port operations, according to Mike Quillen, VPA board chair.
In May 2012, Virginia announced APM Terminal's proposal to take over port operations for 48 years, an agreement APM claimed was worth up to $3.9 billion to the state, which is accepting competing bids through August 13.
Virginia's Transportation Secretary Sean Connaughton recently asked Virginia International Terminals, which currently runs the ports, to provide more information so officials can assess whether to change operators.
A number of container lines that compete with Maersk Line, which like APM is an arm of A.P. Moller Maersk, have complained the deal would give Maersk an unfair advantage at the port. APM says it treats all shipping lines fairly.
Tuesday's board meeting agenda doesn't include the APM proposal, Quillen said, but it is possible the deal could come up. For example, three officials from Norfolk Southern, which handles most rail shipments for Virginia ports, are scheduled to make a presentation to the board, and might want to touch on the terminal operator issue.
A spokesman for Norfolk Southern said recently that Norfolk Southern's CEO and president Wick Moorman thinks it is too soon to discuss APM's proposal before understanding the details.
For more of the Daily Press story: dailypress.com
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