Port of Ningbo applies to set up bonded port area
The mainland Port of Ningbo has applied to the Central Government in Beijing to set up a fourth bonded area in the nation at its phase four container port area. If its bid proves successful, Ningbo will be joining the likes of Shanghai's Yangshan deepwater port, Tianjin's Dongjiang and Dalian's Dayaowan, reports Xinhua.
However, the report noted that industry experts are not optimistic that Ningbo's application will be approved following a proposal by state port authorities to put the brakes on awarding more bonded port areas, after giving the green light to Tianjin's Dongjiang and Dalian's Dayaowan.
Phase four of Ningbo's container port area is the location for Ningbo's proposed bonded logistics park. It has a terminal with an annual capacity of two million TEU and moves are afoot to build 10 new berths by 2008. So far five berths have been constructed.
The Port of Ningbo is ranked fourth among mainland ports after Shanghai, Shenzhen and Qingdao.