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COSCO SHIPPING Ports Limited
COSCO SHIPPING Ports Limited

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COSCO Pacific expands container terminal portfolio in port of Nansha, Ningbo, Nanjing and Tianjin

Date:2005-03-04     Publish:本站

As a major international terminal operator, COSCO Pacific Limited ("COSCO Pacific" or the "Company") will continue to reinforce its position in the industry by upgrading its terminal operation and management capabilities in all areas and increasing holdings of terminals where the company has control. COSCO Pacific achieved remarkable results on terminal business by investing in economic developed region in China, namely Pearl River Delta, Yangtze River Delta and Bohai Rim. COSCO Pacific was pleased to announce that letter of intents were signed with different parties for joint development of container terminals in Port of Nansha, Ningbo, Nanjing and Tianjin. This will further strengthen COSCO Pacific's port portfolio. Terms of condition, such as total investment amount, are still under negotiation and we are making our greatest effort with an aim to sign the joint venture agreement as soon as possible.

COSCO Pacific and Guangzhou Port Group Co., Ltd. signed a letter of intent and agreed to operate a container terminal at Nansha Port Phase II, Port of Guangzhou, ("Nansha Port Phase II Terminal"), the PRC. COSCO Pacific will be the controlling shareholder of the terminal. Nansha Port Phase II Terminal will have 6 berths in total with a quay length of 2,100 meters, a water depth alongside of 14.5 meters at the early stage and will be extended to 17 meters, and a total area of about 2,730,000 square meters. Its annual handling capacity will be up to 4,200,000 TEUs. It is expected to be operational in 2006.

Nansha Port is the only deep-water port in Guangzhou City. It enables the entrance of fifth and sixth generation of container vessel. It has excellent geographic location, with its hinderland of Pearl River Delta as one of the most developed areas in China. Besides, Guangzhou Municipal People's Government is strategically planning to build Nansha into a modern coastal hub port. COSCO Pacific believes that the market of container terminal in Nansha is encouraging. Our investment will reinforce the market share of our terminal business in Pearl River Delta.

COSCO Pacific signed a letter of intent with Ningbo Port Group Company. The two parties agreed to set up a joint venture company for managing and operating a container terminal in Dapukou at Jintang Island ("Jintang Island Terminal"), Ningbo, the PRC. COSCO Pacific will hold 20% of interests of the joint venture company, Ningbo Port Group Company, Ning Xing (Holdings) Co., Ltd. and Zhoushan Yongzhou Container Terminal Limited will hold 45%, 25% and 10% respectively. Jintang Island Terminal will have 5 berths in total with a quay length of 2,000 meters, a water depth alongside of up to 15 meters and a total area of about 1,720,000 square meters. Its designed annual handling capacity will be up to 3,500,000 TEUs and is expected to be operational in 2007.

Ningbo Port is one of the largest ports in China. With a total throughput of 226 million tons and 4,005,500 TEUs in 2004, it took second and fourth rankings respectively among all China mainland ports. It is also known as the fastest growing port in China, with a over 40% throughput growth rate for 5 continuous years. The Port of Ningbo is gifted with great growth potentials, with its hinterland as one of the most developed areas in China. COSCO Pacific believes the joint venture will enjoy promising prospects and investment returns.

COSCO Pacific signed a letter of intent with Nanjing Port Group Company and Shanghai International Ports (Group) Co., Ltd. The three parties agreed to invest and operate a container terminal at Longtan, Port of Nanjing ("Longtan Terminal"), the PRC. This joint venture aims to expand the route of Nanjing Port and position the container terminal at Longtan as the hub of container terminal in Yangtze River Delta. COSCO Pacific will hold 20% of interests of the joint venture company. Currently, Longtan Terminal has 5 berths in total with a quay length of 910 meters, a water depth alongside of up to 12 meters and a container yard area of 930,000 square meters. The area of depot is about 208,000square meters and its handling capacity will be up to 1,000,000 TEUs.

Nanjing Port is a multi-functioned port providing services of cargo distribution and transshipment in Yangtze River Delta. It is the largest inland river port and one of the major hub ports in China. Its total throughput was 405,000 TEUs in 2003 and is expected to rise to 490,000 TEUs in 2004. Our investment in Nanjing will further strengthen our terminal business and market share in Yangtze River Delta.

COSCO Pacific signed a letter of intent with Tianjin Port (Group) Co. Ltd. The two parties and A.P. Moller-Maersk Group agreed to establish a container terminal at North Basin Section B, Port of Tianjin, ("North Basin B Terminal") the PRC. Tianjin Port (Group) Co. Ltd. will hold a 40% interests in the joint venture company, COSCO Pacific and A.P. Moller-Maersk Group will hold a 30% of interests separately. The three parties will work closely for the construction of the terminal. The quay length of North Basin B Terminal is 1,100 meters and the water depth alongside is 15.5 meters at the early stage and will be extended to 18 meters in long term. It is expected to be operational in early 2007. Its annual handling capacity will be up to 2,100,000 TEUs.

Tianjin Port is one of the hub ports in China, as well as one of the major foreign trade and container transportation ports in Northern China. Its compound annual growth rate of container throughput has been 20% since 1990. In 2004, Tianjin Port ranked the fifth among all China mainland container ports with total throughput of 3,810,000 TEUs.