On November 29, 2005, the Alabama State Port Authority has awarded a concession agreement to Mobile Container Terminal LLC to develop a new container terminal at Choctaw Point. At a signing ceremony on January 17, 2006, the official concession agreement was signed between the parties at a ceremony in Charlotte, NC.
Mobile Container Terminal LLC is a joint venture between APM Terminals North America (80 %), a subsidiary of Maersk Inc., and Terminal Link, a division of CMA CGM (20 %). Operations are expected to begin in the second half of 2007 with a start up capacity of more than 350,000 teus with a full built out annual capacity of 800,000 teus.
The signing ceremony was attended by representatives from the Alabama State Port Authority, APM Terminal North America and CMA CGM.