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AP Moller Terminals, the world's fourth largest port operator, has its sights set on Asia's huge thirst for infrastructure such as ports and roads, reported the Straits Times.
The company is eyeing not just the big markets of China and India but also Southeast Asian markets such as Vietnam, Malaysia and Thailand where there is a rising demand for infrastructure, said chief executive Kim Fejfer.
AP Moller Terminals is part of Danish maritime conglomerate AP Moller-Maersk Group. Its container shipping arm, Maersk Line, is the world's largest container shipping company in the world.
“We are in a 'new normal', and this means we will see a global port business that runs with two speeds. There are the emerging markets and the mature markets,’’ Fejfer said.
He expects the port industry to grow five to six percent annually over the next few years, with emerging markets leading the way with seven percent a year.
The main driver is fast rising demand for products such as electronics, refrigerators and cars. This is driving up the need for larger ports and infrastructure to get these goods inland.
“When a container leaves a port, it can go by truck, rail or barge. We're looking at solutions in all three areas,’’ Fejfer said.
The company's Shanghai-based Asia-Pacific chief executive, Martin Gaard Christiansen, said that it is focusing on China's east coast and the Yangtze River region as its top priority. India and Vietnam are also on the list because of their more immediate need for infrastructure development, which is progressing at a slower pace than China's.
“We are also looking at secondary port markets. That could be Malaysia, Thailand or Indonesia, basically markets in Southeast Asia that are having very healthy growth rates,’’ he added.
Cargonews Asia
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