Maersk may invest in $83 mln in Suez Container Terminal channel

A.P. Moeller-Maersk A/S (MAERSKB), Europe’s biggest ship owner, may contribute to the building of a navigation side channel in the Suez Canal Container Terminal at Port Said, Egypt’s Ministry of Transport said, Bloomberg reports. The planned navigation channel will cost 500 million Egyptian Pounds ($83 million), the ministry said today in an e- mail, citing Maersk Chief Executive Officer Claus V. Hemmingsen. Maersk’s APM Terminals owns 55 percent of the container port in the northwest of the country.