NOL and SITC invest in Qingdao container terminal

Neptune Orient Lines (NOL) and SITC International Holdings are investing in a container terminal in Qingdao, Seatrade Asia online reports. The two shipping lines have formed a partnership with Qingdao Qianwan United Container Terminal to operate two-berth container terminal in the port of Qingdao. The new terminal is due to open in the second half of this year and will have an annual capacity of 1.5m teu handling cargo mainly for NOL’s container line APL and SITC. The joint venture has a 30-year concession for the terminal.