APM Terminals, part of Danish shipping giant Maersk, has joined forces with the HATECO group to expand the capacity of Lach Huyen port in Vietnam.
The strategic alliance will see the development of two new deep-water berths at the port, which is located in Haiphong City in the north of the country.
Under the partnership, APM Terminals will offer financial, operational and technical support to HATECO Group Joint Stock Corporation (HATECO), which will act as the investor.
With a total length of 900m (450m each), the two berths will be able to accommodate boxships with a capacity of up to 18,000 twenty-foot equivalent units (TEUs).
HATECO aims to conclude all construction and equipment installation works by the end of next year.
The new terminal is anticipated to begin operations in the first quarter of 2025. The facility will feature five ship-to-shore (STS) cranes and 14 rubber-tyre gantry (RTG) cranes in the initial phase.
Designed to use the favourable natural conditions and geographical location of the area, the project will support the direct import and export of goods between the north of Vietnam and markets in Europe and America.
According to the company, the project is also anticipated to directly provide opportunities for crucial customers and cargo owners in the north of Vietnam.
APM Terminals investment head Martijn van Dongen said: “We are very pleased to partner with HATECO on this important project, further unlocking one of the rapidly growing and high-potential markets in South-East Asia.
“This involvement naturally underpins our ambition to grow where it benefits our customers, and that is clearly the case in Vietnam.”