China Merchants Holdings Complete Terminal Link Deal
China Merchants Holdings (International) announce completed acquisition of a 49% stake in container port operators Terminal Link from CMA CGM. "The smooth completion of this transaction,"China Merchants Group Assistant President & CMHI Managing Director Dr Hu Jianhua indicates," reflects the recognition and consent to the transaction from the governments from whose regulatory units consents and approvals were obtained. "The smooth completion of this transaction,"China Merchants Group Assistant President & CMHI Managing Director Dr Hu Jianhua indicates…
CMHI and CMA CGM Complete Terminal Link Transaction
China Merchants Holdings (International) Company Limited (CMHI) and CMA CGM are pleased to announce the completion on June 11, 2013 of the sale and purchase of the 49% equity stake in Terminal Link, upon the obtaining of all consents and approvals in various jurisdictions and the completion of certain pre-closing corporate reorganizations as stipulated under the terms of the Acquisition Agreement. CMHI's intention to acquire from CMA CGM 49% equity interest in Terminal Link for €400 million was announced earlier in January. The Completion was formalised by the signing by both parties of a Shareholders Agreement. Among the many guests attended the signing ceremony in Luxembourg of the Shareholders Agreement were CMA CGM Executive Officer Farid Salem…
China Starts Building First Luxury Cruise Ship
Xiamen Shipbuilding Industry Co. China has begun construction on its first large luxury cruise liner, which is included in a package of projects aimed at boosting the tourism and shipping industries of a coastal city whose ports are primarily used to handle manufactured goods for export, reports 'What's On Xiamen'. The Southeast China International Shipping Center package includes 10 projects led by the construction of a 100,000-ton luxury cruise liner, a cruise terminal and a shipping business center in the city of Xiamen, local officials said. The combined investment tops 16.73 billion yuan ($2.63 billion), they added. The design and construction of the luxury cruise liner alone is estimated to cost 3.1 billion yuan.
Kerry Logistics to Open Center in China
Kerry Logistics, a logistics services provider, has broken ground on a state-of-the-art logistics center in Xiamen, China. With a total area of 42,600 square meters, Kerry Xiamen Logistics Center will store and distribute products across a wide range of industries, including hi-tech, electronics, food and beverage, wine, and temperature-sensitive cargoes. Situated at Haicang Export Processing Zone, the facility will commence operations in the third quarter of 2012. Haicang is one of the 15 Export Processing Zones approved by the State Council of the People's Republic of China. It is also a bonded area and has been fully equipped with roads, electricity, telecommunications, water, sewage treatment, heaters and a liquefied gas supply.
A.P. Moller - Maersk Group and Xiamen Port Celebrate Opening of Terminal
A.P. Moller - Maersk Group and Xiamen Port (Group) held a grand opening ceremony for the Xiamen Songyu Phase I Container Terminal at Songyu Port, Xiamen. Madam Wu Yi, Vice Premier of the State Council, presided over the opening ceremony in the presence of Madam Ma Xiuhong, Vice Minister of Commerce. More than 200 people attended the event, including government officials from Fujian province and the city of Xiamen, as well as senior executives from the Xiamen Port Group and from A.P. Moller - Maersk Group, including Mr. Tom Behrens-Sorensen, Group Executive Vice President, and Mr. Richard Nicholson, Vice President for APM Terminals in the Greater China Area. APM Terminals is the terminal operating unit of A.P. Moller - Maersk Group.
