Algeciras loses to Tangier

Originally, Maersk put pressure on Algeciras for a 20% reduction in charges, weighing this against the transfer of shipping to the Moroccan port – a move in effect contrary to the collective bargaining agreement reached between the company and port stevedores in December 2008, which guaranteed a minimum of 3m teu annually up to 2017 in return for a non-strikes policy and increased flexibility among the workforce.

The threat has been linked to losses of €1.6bn ($2bn) registered by Maersk in 2009, even though APM Terminals boosted profits by 46%. The Algeciras terminal operated by Maersk España is profitable, registering an average surplus of €5m ($6.4m) over the last six years.

However, local commentators view the announcement as a means of undermining the port’s new Hanjin terminal, which was recently put into service.