APM Terminals has selected Shanghai as its Asia-Pacific regional headquarters, reported Shipping Gazette.

The decision was made to position the company closer to its most important Chinese customers and strategic partners as well as streamline operations and reduce costs, said a company statement. These partners and customers include Shanghai International Port Group and Zhenhua Port Machinery.

The Shanghai government also played an important role in the decision, according to the Netherlands-based company, as it strives to attract more leading multinational companies to locate their regional head offices in the city.