The Taiwan branch of American President Lines LLC has signed an agreement with Taiwan International Ports Corporation Ltd. to renew APL’s terminal lease at the Port of Kaohsiung.

According to APL, the signed deal retains the shipping line’s current terminal plot at the port for another 10 years, from January 1, 2018 to December 31, 2027.

“Today, intra-Asia container volume accounts for one-sixth of all containers moved globally,” said Nicolas Sartini, chief executive officer of APL. “We see further growth prospects in this trade where APL is seeking to be a major player. Our terminal in the Port of Kaohsiung will therefore be strategic for our advancement in intra-Asia where we are connecting the key markets of Japan, Korea, the Philippines, Thailand and Vietnam amongst others via the relay hub today.”

The 101-acre terminal handles the vessels of APL and other carriers including CMA CGM. It offers two berths with a quay length of 640m and a draft of 15.2m, and is capable of handling ships with a capacity of up to 14,000 TEUs. The terminal has a capacity of 1.5 million TEUs per year.

The terminal operating system will be upgraded in the months ahead to increase its capability to enhance operational excellence, according to APL.