Leaders from the Ningbo Port Group and APM Terminals were on hand in Copenhagen to sign a major agreement that creates a new level of cooperation in the fastest growing, deepwater, container port in the world. Ningbo is a major gateway port in Eastern China and the Zhejiang Province. It is the 6th largest container port in the world with strong growth. Container throughput in Ningbo grew 17% annually from 2006 to 2010 and reached 14.5 million TEU in 2011. At the current growth rate, Ningbo capacity utilization will exceed 80% by the end of 2012, and the Meishan project for berths 3-5 represents the future source of capacity. Meishan Container Terminal is the newest container terminal in Ningbo.