COSCO Shipping Ports More than Doubled Profit in 2017
Hong Kong-based port operator COSCO Shipping Ports said that it 2017 profits have more than doubled from a year earlier, partly due to a one-off disposal gain and higher operating profits. The subsidiary and listed company of China COSCO owned by COSCO Group said that its profit reached USD 512.4 million in 2017, representing an increase of 107.4 pct compared with 2016 when the profit stood at USD 247 million. The firm's full year revenue rose 14% to US$634.7 million. Benefitting from the economic recovery and with growth fueled by its acquisitions, the Group has achieved promising results for the year, with total throughput of 100,202,185 TEU. During the year, it completed the acquisition of a 51% equity interest in Noatum Port Holdings S.L.
Dalian Port Merges Container Terminal Facilities
China's Dalian Port (PDA) Company announced that its subsidiary Dalian Container Terminal Company inked deals to acquire the total assets, liabilities, interests, and businesses of two container terminal subsidiaries, Dalian Port Container Terminal (DPCT) and Dalian International Container Terminal (DICT). "Dalian Port Container entered into the Equity Transfer Agreement with the Vendor, pursuant to which the Vendor conditionally agreed to sell, and Dalian Port Container conditionally agreed to purchase the Sale Shares, representing 20% of the total equity interest in the Target Company, at a consideration of US$18,000,000 in cash," said a statement. Prior to the Acquisition, Dalian Port Container and the Vendor were both shareholders of the Target Company.
MPRI Signs Contract with Dalian Port
MPRI, a global leader in maritime simulator products, services and turnkey training facilities, today announced the sale of its maritime crane simulator to the Dalian Port Container Terminal Co., Ltd (DPCM), located in Dayao Bay, Dalian, China. The MPRI crane simulator is the sixth purchased by a Chinese port to date adding to those already in use at the Ports of Yantian, Ningbo, Tianjin and Shanghai. In addition, the DPCM simulator will include the only module on the market today for tandem-lift cranes. The MPRI crane simulator can be tailored to meet the precise needs of various ports' crane systems. DPCM specifically purchased a back projector model consisting of two modules, a ship-to-shore (STS) dock gantry single-lift system with tandem-lift technology and a rubber-tire gantry (RTG).
