HUTCHISON's Europe Container Terminals (ECT) and the Port of Rotterdam Authority have agreed to end a long-standing court battle over the awarding a concession to rival APM Terminals, Maersk's Hague-based port operator.
As a consequence ECT will not appeal in the lawsuit against the Port of Rotterdam Authority. ECT and the Port Authority have signed an agreement, which marks not only the end to the lawsuit, but also the beginning of jointly addressing the challenges the container sector is facing.
The cooperation focuses on strengthening the competitive position and on social and logistics issues of container-handling operations in Rotterdam.
Hong Kong's Hutchison-owned ECT claimed US$1.2 billion in damages against the port for allegedly unfairly awarding the concessions to operate at the 8.5 million TEU capacity Maasvalkte 2, reported Newark's Journal of Commerce.
ECT lost its case September when the Rotterdam district court ruled that the port authority did not abuse its power when it allocated the concessions to APM Terminals and a consortium of DP World, the Dubai-based terminal operator and four carriers.
In a joint statement today, ECT and the port authority said they "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".
APM Terminals will roll out its new facility, the world's first fully automated terminal in February, with an initial capacity of 2.7 million TEU. DP World's Rotterdam Gateway Terminal is due to open in May with a starting capacity of 2.4 million TEU.
ECT is a member of Hong Kong's Hutchison Port Holdings (HPH) Group, one of the world leading network of port operations comprising of 319 berths in 52 ports, spanning 26 countries throughout Asia, the Middle East, Africa, Europe, the Americas and Australasia.
Source : HKSG.