Phase Two of Shanghai's deepwater Port of Yangshan is to begin operations on December 10, reports Xinhua News Agency.Citing comments made by an official from the Shanghai Municipal Port Administration Bureau, the state media said Phase Two involves the provision of four berths, ranging in capacity from 70,000 to 100,000 tons, a quay length of 1,400 metres and 16 quay cranes.
Five big regional players are believed to have invested US$740-870 million to develop Phase Two of the Yangshan deepwater port located off Shanghai.
The five investors are Maersk's port arm, APM Terminals, and Hutchison Port Holdings which each having a 32 per cent stake in the container terminal, Shanghai International Port Group (SIPG) with 16 per cent, while Cosco Pacific and China Shipping Group are each reported to hold a 10 per cent stake in the container port, the Shenzhen Daily said.
Yangshan Port is expected to have more than 30 berths by 2010, according to comments made earlier by the Shanghai Municipal Government.
The Yangshan Phase One terminal, which coincidently began operations on the same day a year ago, lifted 2.5 million TEU from January to October this year. By the end of 2006, the terminal is expected to see its box volume grow to more than three million TEU.
This will help the Port of Shanghai achieve a projected container throughput of 21 million TEU in 2006.
Five big regional players are believed to have invested US$740-870 million to develop Phase Two of the Yangshan deepwater port located off Shanghai.
The five investors are Maersk's port arm, APM Terminals, and Hutchison Port Holdings which each having a 32 per cent stake in the container terminal, Shanghai International Port Group (SIPG) with 16 per cent, while Cosco Pacific and China Shipping Group are each reported to hold a 10 per cent stake in the container port, the Shenzhen Daily said.
Yangshan Port is expected to have more than 30 berths by 2010, according to comments made earlier by the Shanghai Municipal Government.
The Yangshan Phase One terminal, which coincidently began operations on the same day a year ago, lifted 2.5 million TEU from January to October this year. By the end of 2006, the terminal is expected to see its box volume grow to more than three million TEU.
This will help the Port of Shanghai achieve a projected container throughput of 21 million TEU in 2006.