China Shipping Terminal Development (CS Terminal) will set up a joint venture container terminal company with the Ying Kou Port Group. The two sealed a framing agreement yesterday.
The joint venture company will operate two container berths at the Yingkou Port in Liaoning province. There will be six quayside container cranes and related yard container cranes to handle container throughput capacity of one million TEUs.
CS Terminal and the Yingkou Port anticipate an annual container stevedore quantity of over 600,000 TEUs annually from the joint venture. CS Terminal will hold 40 percent equity in the venture and Ying Kou the remaining 60 percent.
President of China Shipping Group, Li Shaode, said Yingkou Port is important for the group's domestic forwarding business, including import and export.
The group's container capacity increased by 97.4 percent in 2007, accounting for over 30 percent of the port's container throughput.
Li plans to double the berths at CS Terminal to 60 during the 11th Five-Year Plan. CS Terminal will have container throughput capacity of 36 million TEUs and become a major profit source to the group.
The joint venture company will operate two container berths at the Yingkou Port in Liaoning province. There will be six quayside container cranes and related yard container cranes to handle container throughput capacity of one million TEUs.
CS Terminal and the Yingkou Port anticipate an annual container stevedore quantity of over 600,000 TEUs annually from the joint venture. CS Terminal will hold 40 percent equity in the venture and Ying Kou the remaining 60 percent.
President of China Shipping Group, Li Shaode, said Yingkou Port is important for the group's domestic forwarding business, including import and export.
The group's container capacity increased by 97.4 percent in 2007, accounting for over 30 percent of the port's container throughput.
Li plans to double the berths at CS Terminal to 60 during the 11th Five-Year Plan. CS Terminal will have container throughput capacity of 36 million TEUs and become a major profit source to the group.