During the first quarter of 2019, Dutch multinational APM Terminals, a subsidiary of Danish sea cargo transport giant Maersk, formally opened an ocean trade complex valued at 885 million euros at Port of Moín on Costa Rica’s Caribbean coast.
Located a distance of 379 kilometers from the strategic Panama Canal, the new Moín Container Terminal (TCM) allows for the docking of the largest vessels that access the canal to make the crossing between the Atlantic and Pacific Oceans.
The first operations of the facility, which has been built on an artificial island off of the beach at Moín, in the province of Limón, commenced in November of 2018. This was eight years after the Costa Rican government awarded a thirty-year concession to operate the port to APM Terminals.
After 10 years of negotiating with the state port workers’ union, dealing with legal objections, overcoming pressures and concerns from the private sector, and trouble-shooting technical difficulties that resulted in delays, the Dutch company began to offer services which, it promised, would result in a “radical strategic change in the region.” APM Terminal’s CEO, Morten Engelstoft, asserts that the container facility at the Port of Moín will soon be positioned as the most efficient such facility in all of Latin America, and will succeed in attracting and generating a large volume of business that will significantly impact current trade routes.
The new private terminal at the Port of Moín has reduced from 40 to 15 hours the average attention time that each ship needs to be processed to make a canal crossing. It is now able to handle vessels that are up to 320 meters long and 33 meters wide that are capable of transporting up to 8,000 containers in a single trip.
This number far exceeds the current capacity of 2,500. The facility is also equipped with 39 electric container cranes and the six Super-Post Panamax gantry cranes at the terminal will be capable of handling container ships up to 8,500 TEUs. When full development of the facility is reached, the TCM aims to handle ships of up to 13,000 TEUs. The shortening of processing times along with the upgrade of Port of Moín facilities is projected to result in a significant reduction in overall logistics costs for shippers.