Hongkong International Terminals Limited (HIT), COSCO-HIT Terminals (Hong Kong) Limited (CHT) and Asia Container Terminals Limited (ACT) have today entered into a formal collaboration for the efficient co-management and operation of 16 berths across Terminals 4, 6, 7, 8 and 9 (together the “Combined Terminals”) at Kwai Tsing, New Territories, Hong Kong, the company said in its press release.
The revenue and expenses from the management and operation of the facilities of the Combined Terminals will be allocated among the parties by reference to the respective designed capacity of the facilities owned by each party.
HIT owns 12 berths in Terminals 4, 6, 7 and 9 while CHT and ACT own 2 berths each in Terminal 8 East and Terminal 8 West respectively.
About COSCO SHIPPING Ports Limited
COSCO SHIPPING Ports’ largest shareholder is COSCO SHIPPING Holdings, whose parent company, COSCO SHIPPING, is one of the largest integrated shipping enterprises in the world. COSCO SHIPPING Ports enjoys competitive advantages brought by the synergies among COSCO SHIPPING companies and the long-term support from large-scale shipping companies in China and overseas.