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.
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