By Flemming Emil Hansen
COPENHAGEN--Danish shipping and oil company A.P. Moller Maersk
A/S (MAERSK-B.KO) signed a loan agreement with China Development
Bank Friday for $500 million, which is to be used to purchase
containers.
The loan agreement was signed in Copenhagen by Maersk Chief
Financial Officer Trond Westlie and China Development Bank Vice
Governor Gao Jian on Chinese President Hu Jintao's 3-day state
visit to Denmark, which began June 14.
Maersk has previously taken loans totalling $1 billion from
China Delopment Bank.
During the first-ever Chinese state visit to Denmark, Danish
companies, organizations and ministries have used the opportunity
to sign a long list of collaboration, exports and investment
deals.
In addition to the loans agreement, Maersk's port operating arm
APM Terminals has also signed a joint port development project with
Ningbo Port. Co., which entials a $500 million investment by
Maersk.
Write to Flemming Emil Hansen at
flemming.hansen@dowjones.com
