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APM Terminals will, subject to regulatory approval, acquire 50 percent of the shares in Brasil Terminal Portuario (BTP), a new container terminal being built in Santos, Brazil. APM Terminals and Terminal Investment Limited reached agreement to jointly manage the terminal.

BTP is currently developing the facility that is expected to be fully operational by mid 2013.

The new container facility will feature 15 meter water depth and a capacity of 2.2 million TEU when fully built, to serve Brazil's future ambitions through a world-class port capable of handling the next generation of vessels for the trade.

"In Brazil, one of the world's fastest-growing markets, port modernization represents a huge opportunity, stated Kim Fejfer, CEO of APM Terminals adding: "The new agreement is an important step in offering our customers better access to Brazil markets".

Vikram Sharma, CEO of Terminal Investment Limited said: "This agreement will benefit Brazilian shippers by making Santos more competitive in world markets".

The port of Santos serves the state of Sao Paulo and its hinterland. Roughly 50 percent of Brazil's GDP is generated in the areas served by the port of Santos and more than 25 percent of Brazil's trade passes through the port.

Santos is also the country's largest bunker port, accounting for approximately one-third of total bunker sales in Brazil.

The Brazilian bunker market is estimated to be 4.5 to 5 million metric tonnes per year with state-owned oil company Petrobras as the market's one significant player.

APM Terminals currently operates in the Brazilian ports of Pecem and Itajai, and offers its customers inland services and depots.

Terminal Investment Limited operates the terminal of Portonave in Navegantes, Brazil.