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COSCO SHIPPING Ports Limited
COSCO SHIPPING Ports Limited

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Signing of Memorandum of Understanding to Develop Euromax Terminal

Date:2006-12-21     Publish:本站

Signing of Memorandum of Understanding to Develop Euromax Terminal
 

On December 21, 2006, COSCO Pacific Limited (“COSCO Pacific”), Kawasaki Kisen Kaisha, Ltd. (“K-Line”), Yang Ming Marine Transport Corporation (“Yang Ming”), Hanjin Shipping Company Ltd.(“Hanjin”) and Europe Container Terminals B.V. (“ECT”) entered into a memorandum of understanding to jointly construct, develop and operate Euromax Terminal in Maasvlakte at the port of Rotterdam in the Netherlands.  ECT will hold 51% interest of the joint venture while the other four parties will jointly hold a total of 49%. Details of the cooperation will be subject to further negotiation.
 

Phase I of Euromax Terminal with annual capacity of 2.3 million TEU is expected to commence operation in 2008. In this phase, the terminal is equipped with a total quay length of 1,500m, yard area of 770,000 m2 and water depth alongside of 16.6m. Upon the construction of the terminal to be fully completed, the total handling capacity will amount to 5.6 million TEU per annum.

Euromax Terminal is located at the port of Rotterdam. Ranking as the busiest port in Europe and seventh largest container port in the world, Rotterdam handled a total of 9.3 million TEU of container throughput in 2005. Euromax Terminal will serve for CKYH alliance of shipping companies including COSCO Container Lines, K-Line, Yang Ming and Hanjin, as an important hub port of its lines in Northwest European Region.

With the long-term cooperation among parties of joint venture of the Euromax terminal, COSCO Pacific strongly believes that the terminal will become a world-class terminal to provide comprehensive services and high performance of facilities to the global liner operators and customers.