Maersk's APM Terminals and Hateco sign deal to study Vietnam rail freight

APM Terminals, the ports division of Denmark's A.P. Moller-Maersk, and Vietnam's Hateco Group have signed a non-binding agreement to study the development and operation of railway freight terminals in northern Vietnam. The Vietnamese government announced the deal, which was signed during a visit to Denmark by Vietnam's General Secretary and President To Lam. The arrangement is a study agreement rather than a binding commitment.

The study will examine a rail freight terminal in Hai Phong, including cargo-handling and storage facilities, along with three other rail freight locations in the north, according to a statement on the Vietnamese government portal. The proposed network would link industrial parks, logistics hubs and manufacturing sites with major transport gateways, forming an integrated rail freight system for the region.

Preliminary investment in the project is estimated at up to $3.5 billion, the statement said. The government added that the project could reduce strain on road transport, improve freight efficiency and widen options for import-export and cross-border trade.

The agreement builds on Maersk's existing presence in Vietnam. In 2025, A.P. Moller-Maersk and Hateco opened the Hateco Hai Phong International Container Terminal, a deep-water container port in northern Vietnam that cost around $400 million. APM Terminals is the ports arm of the Danish shipping and logistics group.

Because the agreement is non-binding, no final investment decision has been made. The government statement did not disclose a timeline, ownership structure or the exact locations beyond Hai Phong. The companies are expected to carry out feasibility studies.