Maersk Loses South Africa Court Bid Blocking Key Port Deal

A South African court dismissed a case brought by A.P. Moller-Maersk A/S against a port-expansion deal awarded to a firm headed by Filipino billionaire Enrique Razon, paving the way to expand the continent’s top container hub.

The High Court on Friday dismissed the move after finding that Razon’s International Container Terminal Services Inc. was transparent in calculating its solvency ratio, a metric that South African state-owned ports operator Transnet SOC Ltd. used to judge whether bidders could afford to run and expand the main terminal in the southeastern city of Durban.