APM Terminals has bought into a Saudi terminal owned by DP World. APM Terminals will acquire a 37.5% minority stake in the Southern Container Terminal at Jeddah Islamic Port, while DP World will retain a 62.5% majority shareholding and continue to lead the operations at the facility, which it has had a 30-year build-operate-transfer concession since 2019. No price for the investment has been revealed.

Keith Svendsen, CEO of APM Terminals, said: “Jeddah is one of the region’s most important trade corridors. This investment secures long-term access to quality infrastructure and strengthens our ability to support customers with reliable, scalable capacity in the kingdom.”

In 2021, Maersk signed an agreement with Saudi Ports Authority to invest $136m over 25 years in an integrated logistics park at the same Saudi port.