APM Terminals announces Multipurpose Terminal JV at Qingdao Port
The APM Terminals Global Terminal Network will enter China’s fastgrowing grain import market as part of a joint venture with Qingdao Port International (stock code: 06198.HK), continuing APM Terminals’ ongoing expansion into port and terminal operations outside containerised cargo handling, the company said in its press release.
The newly developed Qingdao Port Dongjiakou Multi-Purpose Terminal, in which APM Terminals will hold a 20% share, is located on China’s Bohai Rim in the Shandong province, on the Yellow Sea. The Port of Qingdao is one of the world’s busiest ports,ranking seventh globally handling a total of 468 million metric tons in 2014. Qingdao’s new Dongjiakou Port area is set to become a national hub of Chinese bulk and energy cargos, with a projected volume of more than 300 million metric tons handled annually in this new complex.
The Qingdao port handled around 7 million metric tons of grain cargo in 2014, with continued strong growth again in 2015. The Qingdao Port Dongjiakou Multi-Purpose Terminal, operated by Qingdao Port International and APM Terminals, will cater to the rising demand of grain and other general cargo and allow for improved port logistics service into the hinterland markets.
APM Terminals’ Chinese presence includes interests in nine operating terminals in six ports, with a seventh facility currently in development at the port of Ningbo. APM Terminals is currently a shareholder with Qingdao Port International in five container terminals in the Qianwan section of Qingdao Port. APM Terminals operates grain handling facilities in Callao, Peru, and Poti, Georgia. In 2013, China imported around 63.4 million metric tons of soybeans, along with 14 million metric tons of corn, wheat and rice. Soybean imports, primarily from the USA and Brazil represent more than 80% of Chinese annual domestic demand.
