China Merchants says its total cargo handling capacity in Hong Kong and the mainland rose 22 percent in the first half
China Merchants Holdings (International), the Hong Kong-listed container port company, said its total cargo handling capacity in Hong Kong and the mainland rose 22 percent in the first half compared with the same period last year.
Chairman Fu Yuning said Tuesday after an extraordinary general meeting that the company's container port handling in the mainland alone rose 25 percent in the first half, compared with last year.
"We expect our company's volume of cargo handling will keep on rising in the second half and it will perform better than last year, especially during the Christmas period," Fu said.
The company plans to open one storage depot for its logistics project in Tianjin by the end of this year, and six storage depots in total will be opened in the first phase.
Fu said the company is building the third and fourth storage depots now. The third phase development of the Tianjin port project is still in discussion. The management team will go to Tianjin for further discussions.
The Hong Kong-Shenzhen Western Corridor also encourages the development of the company's port business as it helps connect the transportation network between the two places, according to China Merchants.
"More consolidators would consider using the ports in Shenzhen because the cost in Hong Kong is higher," Fu added.
China Merchants announced last week it planned to buy 14 percent of the shares of the second phase in the Shenzhen Dachan Bay project for synergy effects, at a cost of HK$1.03 billion.
Fu said the invested amount is no higher than the company expected, and the project is favorable for the development of its port business in Shenzhen. The company is trying to keep participating in the third and fourth phases of the project but says it is still early to discuss the details. The firm has no plan to launch A shares and will consider raising funds if necessary. China Merchants shares closed Tuesday at HK$39.25, up 3.7 percent.
Chairman Fu Yuning said Tuesday after an extraordinary general meeting that the company's container port handling in the mainland alone rose 25 percent in the first half, compared with last year.
"We expect our company's volume of cargo handling will keep on rising in the second half and it will perform better than last year, especially during the Christmas period," Fu said.
The company plans to open one storage depot for its logistics project in Tianjin by the end of this year, and six storage depots in total will be opened in the first phase.
Fu said the company is building the third and fourth storage depots now. The third phase development of the Tianjin port project is still in discussion. The management team will go to Tianjin for further discussions.
The Hong Kong-Shenzhen Western Corridor also encourages the development of the company's port business as it helps connect the transportation network between the two places, according to China Merchants.
"More consolidators would consider using the ports in Shenzhen because the cost in Hong Kong is higher," Fu added.
China Merchants announced last week it planned to buy 14 percent of the shares of the second phase in the Shenzhen Dachan Bay project for synergy effects, at a cost of HK$1.03 billion.
Fu said the invested amount is no higher than the company expected, and the project is favorable for the development of its port business in Shenzhen. The company is trying to keep participating in the third and fourth phases of the project but says it is still early to discuss the details. The firm has no plan to launch A shares and will consider raising funds if necessary. China Merchants shares closed Tuesday at HK$39.25, up 3.7 percent.