Cosco Shipping Ports Buys Stake in Beibu Gulf Port
Hong Kong-based Cosco Shipping Ports has purchased a 4.34% stake in Shenzhen-listed Beibu Gulf Port Co for a total consideration of approximately RMB 470 million (USD 68 mln)."By subscribing the shares, Cosco Shipping Ports aim to further strengthen the cooperation with Beibu Gulf Port, and lay a foundation for the Company to participate in the integration of Guangxi ports. At present, Cosco Shipping Ports teams up with Beibu Gulf Port in operating Qinzhou International Container Terminal Co., Ltd," said a press release from the port company.Beibu Gulf being the gateway of the New International Land-Sea Trade Corridor (ILSTC, formerly known as China-Singapore Southern Transport Corridor)…
PSA International Ventures into South-Western China
PSA International (PSA) established itself as the first and only Global Terminal Operator in the Guangxi-Beibu Gulf region by signing a Joint Venture Agreement with Beibu Gulf Port Group (BPG) and Pacific International Lines (PIL) to operate a new container terminal in Qinzhou City (Guangxi Province, China) - BEIBU GULF-PSA International Container Terminal Co., Ltd (BPCT). The joint venture terminal is PSA’s first foray in the South-Western China region – one of the fastest growing economic regions in China. Accessible to Southeast Asia by land and sea, the region has been earmarked by the Chinese government as a key area for coastal development and collaboration with ASEAN countries.
Chinese Mega Ports Increased in Number in 2011
The number of such ports was 22 in 2010, and 12 in 2006. Among the 26 100-million-ton handling capacity ports, 17 are costal and nine are inland, said a statistical bulletin, which was commissioned by China's Ministry of Transport and featured in 'China Daily'. Ningbo-Zhoushan Port, in east China's Zhejiang province, came out on top, with an annual handling capacity of 694 million tons of throughput in 2011, according to the statistical bulletin. Eleven ports on the list are located in the Yangtze River Delta, and two are in the central and western regions of China: Chongqing Port and Beibu Gulf Port. China has also seen a strong momentum…
