APM TERMINALS UNVEILS PLANS FOR NORTH AMERICA

APM TERMINALS UNVEILS PLANS FOR NORTH AMERICA

   APM Terminals' A.P. Moller Group's container terminal operating company, has renamed Maersk Container Service Co., the Maersk Inc. affiliate responsible for managing 14 U.S. container terminals.

   The renaming of the Charlotte, N.C.-based unit to APM Terminals, coincides with plans to target third-party business at the U.S. terminals.

   APM Terminals is the management arm for two terminal operating companies:

   * Universal Maritime Service Corp. which operates terminals in Port Elizabeth, N.J.; Baltimore; Portsmouth, Va.; Charleston, S.C.; Jacksonville, Fla.; Port Everglades, Fla.; Miami; New Orleans; and Houston.

   * Maersk Pacific Ltd., which operates terminals in Long Beach, Calif. (Pier J, Pier G); Oakland, Calif. (Pier 22, Pier 24); and Tacoma, Wash.

   'Our business plan in 2002 is changing to target more third-party business into or terminal network,' said Tony Scioscia, president of APM Terminals in Charlotte. 'The initiative makes perfect sense and represents a natural evolution of our business plan to grow and invest in the industry's number one terminal network.'

   APM Terminals globally handles about 13 million TEUs annually through 40 terminals worldwide.