Privately-owned Peel Ports has already invested GBP400 million (US$498.815 million) in the Liverpool2 initiative, creating a deep-water container terminal that can accommodate larger vessels, reported Reuters.

The company has been upgrading much of its port network, especially in northwest England, aiming to draw business away from ports further south, particular if a no-deal Brexit disrupts trade flows.

Ports in the southeast, through which most of Britain's trade with the European Union moves, could become clogged if customs inspections are required when Britain exits the EU, requiring ports elsewhere to help to alleviate the congestion.

The proposed Peel Ports joint venture, which is subject to regulatory clearance, was described by the company as an "incredibly positive development" for its container business and the port of Liverpool.

"It will enable the business to accelerate its ambitious growth plans," Peel Ports said in a statement.

Work has already commenced on the second phase of Liverpool2 to provide extra capacity for the anticipated growth in volumes, the company said.

TiL's container terminals business is active in 29 countries and handles 45 million TEU per annum, according to an MSC Group report.

MSC this year launched a service between the Mediterranean and Canada including a port call in Liverpool. This is in addition to a separate service from Liverpool to New York that started in 2018 and is jointly operated by 2M alliance partner Maersk Line

http://www.shippingazette.com/menu.asp?encode=eng