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COSCO SHIPPING Ports Limited
COSCO SHIPPING Ports Limited

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Investments in Jiangdu port

Date:2007-04-20     Publish:本站

Investments in Jiangdu port
 

On 12th April 2007, Yangzhou Yuan Yang International Port Co., Ltd. ("Yangzhou Yuan Yang Company"), a subsidiary of COSCO Pacific Limited ("COSCO Pacific"), signed a letter of intent and related agreements with Jiangdu City Government regarding a strategic port investment ("Port Investment") at Jiangdu port (江都港區). Yangzhou Yuan Yang Company will invest and operate two berths plus the exclusive rights for further investment in other new berths at Jiangdu port nearby Yangzhou port (揚州港區) in the province of Jiangsu (江蘇省) in China. Total land area of the Port Investment will be approximately 1,330,000 m2.

No. 1 berth at Jiangdu port is currently in operation. The berth is equipped with a designed annual capacity of 750,000 tonnes, a quay length of 135 meters, its water depth alongside of 7.5 meters and land area of about 60,000 m2. No. 2 berth is being constructed and expected to commence operation in July 2007. The berth has a handling capacity of 1.1 million tonnes with a quay length of 275 meters, its water depth alongside of 13 meters and land area of about 240,000 m2. Both of these two berths are designed to handle break bulk cargos.

COSCO Pacific effectively holds 55.59% interest of Yangzhou Yuan Yang Company which is a joint venture company being owned by COSCO Pacific, Yangzhou Habour Affairs CO., Ltd. and Zhangjiagang Win Hanverky Container Terminal Co., Ltd. It manages and operates two container berths and three multi-purpose berths in Yangzhou port. Total container throughput in 2006 was 222,912 TEUs, representing an increase of 41.9% over 2005. In order to capture the business development opportunities derived from the rapid trade growth in Yangtze River Delta, its shareholders decide to invest and dedicate their efforts to support the government policy, namely "Three Zones to One Port" (¤@´ä¤T°Ï), to form the port area of Yangzhou. The three zones include Yangzhou, Jiangdu (¦¿³£)and Yizheng (»ö©º).

This policy mentions Yangzhou port to be developed as the centre of port area being linked together with Jiangdu port and Yizheng port to form a well established terminals network. In this port area, while Yangzhou port is handling most of the container throughput, Jiangdu port will handle break bulk cargos, such as timbers and iron ores, and Yizheng port will have specialized berths to handle chemical industrial cargos.

In 2006, Yangzhou was ranked as the second largest port handling substantial portion of the import of lumbers in China, with a total throughput of 2.5 million cubic meter. Jiangdu port experienced a rapid throughput growth by handling 1.2 million tonnes of cargos in 2006, and with a throughput forecast of 5.2 million tonnes by 2010. Automobile, machine metallurgy, biochemical, ship building, garment and textile are the top five major industries in Jiangdu which is being linked directly to Yangzhou port through a well developed highway system along the river area.

Yangzhou Yuan Yang Company will increase its investment in the port area of Yangzhou by further acquisition of new berths in Jiangdu port so as to expand its market share in the northern and central parts of Jiangsu. This strategy will provide rooms for the future development of the company capturing excellent business opportunities derived from the rapid economic growth in Yangtze River Delta (ªø¦¿¤T¨¤¬w).