APM Terminals exceed 2024 financial target with over 10% rise in trade

APM Terminals closed 2024 with a strong financial performance, driven by significant top-line growth based on strong container volumes and increased revenue per move.

APM Terminals Apapa surpassed financial targets, meeting and exceeding earnings before interest and taxes (EBIT) by reporting a 13 per cent rise in imports and a 10 per cent increase in exports.

As an independent division of A.P. Moller-Maersk, APM Terminals, which operates facilities in 60 locations across 33 countries, handled over 23.2 million container moves with over 27,000 vessel calls in 2024 alone.

The Managing Director of APM Terminals Apapa, Steen Knudsen, lauded the achievement, emphasising the company’s role in Nigeria’s economic development.

He said the company is proud to support job creation and export opportunities in Nigeria, adding that the terminal has also made strides in safety improvements through infrastructure enhancements.

Knudsen said a key milestone for APM Terminals Apapa in 2024 was the arrival of COSCO Shipping’s EA Centaurus, the largest vessel ever to dock in Lagos.

He noted that the terminal also reduced vessel port stay by 14 per cent, enabling shipping lines to optimise fuel use and more cargo lifts.

Knudsen said new yard blocks and a dedicated Customs examination ground were constructed to boost export cargo capacity and improve import cargo clearance efficiency.

The Chief Executive Officer of APM Terminals Nigeria, Frederik Klinke, reaffirmed the company’s commitment to long-term investments in Nigeria’s port infrastructure.

“We are in close dialogue with the government to drive further investments in Lagos Port. Nigeria is a crucial market, and we are dedicated to fostering economic growth and prosperity,” he said.

He said with operations in Apapa, Kano and Onne, APM Terminals handles nearly half of Nigeria’s containerised trade and supports over 10,000 Nigerian families through direct and indirect employment.

Klinke said as a testament to its commitment to port infrastructure, the company recently invested $115 million to upgrade and expand the West Africa Container Terminal in Onne, Rivers State, further paving the way for businesses to grow their export markets exponentially.

He emphasised that with a continued focus on efficiency, safety and infrastructure development, the company remains a key driver of global trade and economic growth.