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COSCO SHIPPING Ports Limited
COSCO SHIPPING Ports Limited

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Dalian Automobile Terminal Co., Ltd. to commence operation

Date:2006-07-06     Publish:本站

Dalian Automobile Terminal Co., Ltd. To Commence Operation
 

COSCO Pacific Limited ("COSCO Pacific" or the "Company") is pleased to announce that a ceremony was held in Dalian to celebrate the operation of Dalian Automobile Terminal Co., Ltd. ("Dalian Automobile Terminal" or the "Joint Venture Company") officially to commence today. Dalian Automobile Terminal was established by COSCO Pacific, Dalian Port Group Co., Ltd. and Nippon Yusen Kabushiki Kaisha ("NYK") on 24th January 2004. The Joint Venture Company invests to build, manage and operate an automobile terminal at Dayao Bay in Dalian. Total investment is about RMB600 million (US$75 million). COSCO Ports (Dalian RoRo) Limited, a wholly owned subsidiary of COSCO Pacific, holds 30% equity interest in the Joint Venture Company, with Dalian Port Group Co., Ltd. and NYK holding 40% and 30%, respectively.

Dalian Automobile Terminal is the first automobile terminal investment of COSCO Pacific. The terminal has a quay length of 640 meters and its total land area is about 540,000m2. It is equipped with two berths for roll-on/roll-off vessels. Its handling capacity is 600,000 vehicles per year.

Fueled by robust economic growth and strong domestic consumption in China, the rising demand for motor vehicles leads to a huge market for the automobile terminals. The Joint Venture partners own solid background and professional experience to operate and manage container terminal as well as automobile transportation. Since 2003, China Ocean Shipping (Group) Company has cooperated with NYK to form strategic partnership and to jointly develop fast growing automobile shipping business. This partnership is expected to generate considerable business volume for Dalian Automobile Terminal.

Dalian Automobile Terminal will become a modern international automobile logistics centre in the northeastern China. Besides, it plans to cooperate with COSCO Logistics Co., Ltd. to provide high quality logistics services by utilizing the well-developed highway and railway network in China.