MSC and CMA CGM withdraw Virginia opposition

MSC and CMA CGM have withdrawn objections they lodged in respect of a proposed deal by APM Terminals to run various port terminals in Virginias ports for a period of 48 years.

They had expressed their concerns given that APMT forms part of the Danish AP Moller Maersk group.

However, on July 23, APMT made written and verbal assurances to governor Bob McDonnell stressing that it would not discriminate against anybody were it to be offered the contract and would also allow Virginia Port Authority to perform an audit to ensure the company “adheres to commercial standards of fairness”.

Claudio Bozzo, MSC’s American president and chief executive, indicated that he was satisfied the addendum would ensure fairness.

Frank J Baragona, head of CMA CGM in the US noted that APMT had “made clear that it is fully committed to operating an efficient, neutral, and competitive facility at the Port of Virginia”.