Hong Kong-based China Merchants Holdings International is to purchase a 20 per cent equity stake of Chu Kong River Trade Terminal for US$16.9 million ahead of its company projection to increase annual container box throughput by 20 per cent.
The port developer signed a co-operation agreement in July with owner Chu Kong Shipping Development, the biggest shipping agent by fleet size in the Pearl River Delta, southern China.
The acquisition will benefit the river trade terminal by placing it as a primary port of the Western Shenzhen area for container return point and stacking area. It's 11 river ports annual throughput in 2009 hit 780,000-TEU with bulk cargo volumes at 1.35 million tonnes according to a report from ADPnews.
The port developer signed a co-operation agreement in July with owner Chu Kong Shipping Development, the biggest shipping agent by fleet size in the Pearl River Delta, southern China.
The acquisition will benefit the river trade terminal by placing it as a primary port of the Western Shenzhen area for container return point and stacking area. It's 11 river ports annual throughput in 2009 hit 780,000-TEU with bulk cargo volumes at 1.35 million tonnes according to a report from ADPnews.