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Old March 15th, 2006, 12:11 PM   #101
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News from Xinhua Agency:
Shanghai aims to be logistics hub for Asia-Pacific area
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Old April 12th, 2006, 03:52 PM   #102
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Exports surge boosts Cosco earnings 31pc
12 April 2006
South China Morning Post

China Cosco Holdings, owner of the mainland's second-largest container shipping line, posted a larger than expected 31 per cent jump in profit last year, after exports from China and other Asian countries grew.

The company also successfully increased freight rates in the highly competitive Asia-Europe route.

Net profit rose to 5.45 billion yuan, or a basic 1.06 yuan a share, from 4.15 billion yuan, or 1.01 yuan, a year earlier, the company said.

Sales increased 22 per cent to 39.16 billion yuan.

Chairman Wei Jiafu plans to almost double the firm's capacity by 2008 to take advantage of rising trade, after the country's exports increased 28 per cent last year.

The firm has four vessels on order that can carry 10,050 standard 20-foot boxes each, the world's biggest container ships.

Senior management said yesterday it would spend 1.2 billion yuan to increase its fleet size, bringing the number of vessels to 137 by the end of this year from 124 last year. The expansion is expected to boost capacity 22 per cent by the end of this year.

The company said it would continue to source its fuel stock in bulk from Singapore in order to lower the fuel bill.

Fuel costs, which rose 61 per cent to 4.7 billion yuan last year, accounted for 28 per cent of the company's costs.

Fuel surcharges from exporters helped to balance the rise in fuel cost by 3.2 billion yuan.

Cosco's shares yesterday closed unchanged at $3.625 each.
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Old April 19th, 2006, 08:10 PM   #103
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Chinese ships to dock at Port of Miami

Chinese ships to dock at Port of Miami

By Suzy Valentine
As many as seven ships from the Far East will dock at the Port of Miami each week when another service begins at the end of this month.
Evergreen/COSCO is providing a China express service expected to reach the seaport next week. After that, one of three vessels the owner rotates will visit the Port of Miami weekly as part of the itinerary.
Each ship is to pick up cargo in Shanghai, Yiantin and Hong Kong before sailing to Cristobal, Panama, and Savannah, GA, and arriving at the Port of Miami.
The vessel's return journey is to involve stops in Cristobal and Shanghai.
The route is the result of several months of negotiations and complements an existing schedule that has facilitated China's movement up Miami's trade rankings from 15th in 2003 to top trading partner for the year ended Sept. 30. China accounted for almost 1 million tons of goods flowing in and out of the seaport last year - about 10% of all trade.
Services between the Far East and Miami average four to six per week, though that rises in summer.
Eleven steamship companies offer service between Miami and the Far East.
"The service should arrive within a week or two," said Steve Erb, vice president of P&O Ports Florida Inc. "We've been working on the logistics for a couple of months, but the lines have probably been planning this for longer. This is a full service, so there will be inbound and outbound cargoes."
Officials are unclear which day of the week the first vessel will dock at the seaport.
"It'll be next week," said port director Charles Towsley, "though we don't have an estimated time of arrival yet. Each of the three vessels will have 500 moves a call. They'll be carrying general goods and electronics from the Far East."
Officials stopped short of making projections about how the additional route will boost trade.
"Until the ships get up and running, it's very difficult to tell how much trade will be done," said Mr. Towsley. "How exports develop remains to be seen. But, where there is one-way traffic, the aim is always to build that into two-way by boosting outbound product."
"It's premature to say what the volumes and 20-foot equivalent (container) unit counts will be," agreed Mr. Erb, who said it was a coup for the seaport to land the deal during a time of increased rivalry with Port Everglades. "In the containerization world, all ports are very competitive."
More services are in the cards, said Mr. Towsley.
"We're in talks to secure additional Far East services later this year," he said, "as well as boosting services to Northern Europe. Both can be expected in the last quarter of this year."
His colleague agreed.
"We're very optimistic for 2006," said Mr. Erb. "There are leads going forward for Far East and other trade lanes."

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Old April 20th, 2006, 05:43 PM   #104
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Xiamen predicts slowdown
Hong Kong Standard
Carol Chan
Thursday, April 20, 2006

Xiamen International Port, which reported profit growth of less than 5percent last year, expects its rate of increase of container throughput to slow this year, as some vessels turn to ports with larger and deeper berths.

The company, whose shares have gained 31 percent since listing in Hong Kong in December, said throughput growth may slow to 10 to 15 percent from 18.6 percent last year when the company moved 2.63 million TEUs (20-foot equivalent units). Xiamen International is the largest terminal operator in China's seventh-largest container port.

"As shipowners increase the use of large vessels which can transport more boxes, they opt for using Shanghai and Shenzhen ports that have larger and deeper berths first," Xiamen International chairman Zeng Yingguo said Wednesday.

Throughput growth rate at the company, which has brought in customer China Shipping (Group) as a strategic investor, was faster than the 16.4 percent increase at Xiamen port while lagging the 23 percent national increase to 75.8 million TEUs in 2005.

The situation will improve gradually after completion later this year of three new berths under construction in the Haicang Port area that will allow large vessels to anchor, Zeng said.

Two berths, 4 and 5, are expected to be completed in June and will increase the company's designed annual container throughput from the present 2.8 million TEUs to 2.91 million TEUs. The other, berth 1, is expected to be completed by the end of 2006, taking throughput to 3.26 million TEUs.

Xiamen International will set aside 707 million yuan (HK$683.9 million) for capital spending this year to build the three berths, funded mainly with proceeds of the company's HK$1.36 billion initial public offering in December.

The company, which operates 13 berths, said net profit rose 4.7 percent to 243.6 million yuan last year, from 232.7 million yuan in 2004, as turnover rose to 1.3 billion yuan from 1.2 billion.

Gross profit margin declined 2 percentage points to 42.7 percent last year, partly on competition from a new rival in its tallying business, where turnover slumped 32 percent.

The Ministry of Communications in late 2004 ruled that every port should at least have two tally companies in an effort to curb monopolies.

Zeng said services charges at its tallying business, which fell 40-50 percent last year, should stabilize in 2006 or even make gains as its competitor has pledged not to cut prices further. Xiamen International shares closed down 1 percent at HK$1.93 Wednesday.
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Old April 21st, 2006, 04:59 PM   #105
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China in radical move to end crew shortage
21 April 2006
Lloyd's List

LIKE any other maritime nation, China is suffering from a shortage of qualified seafarers, writes Mike Grinter.

Now it aims to take sweeping measures to combat the problem.

At a forum in Shenzhen, China’s maritime safety administration said the country’s ship-ping industry lacked at least 13,000 qualified seafarers.

It proposed discarding the old rules where only graduates from maritime colleges are allowed to sit seafaring examinations.

Soon it will be possible for college students who major in engineering sciences and express an interest in a career at sea to be eligible to qualify as seafarers.

The administration will also look further afield for likely candidates. A spokesman said that traditionally China’s seafarers had come from the eastern coastal cities.

Now efforts would be made to source cadets from the poverty-stricken western provinces.

Due to the shortage fewer than 40,000 Chinese sailors work on foreign-flagged vessels.
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Old April 22nd, 2006, 05:58 PM   #106
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Maersk chief eyes more China investment

BOAO, China, April 22 (Reuters) - A.P. Moeller-Maersk wants to invest in more Chinese ports and other business areas after agreeing to take a stake in the second phase of a $12 billion port in Shanghai, its chief executive said on Saturday.

Danish shipping group and oil group Maersk <MAERSKb.CO> signed an agreement with Hutchison Whampoa Ltd. in December to buy into Phase II of the Yangshan deepwater port near Shanghai, becoming the first international investor to join the container project.

Asked if Maersk was considering more investment in Chinese ports, chief executive Jess Soderberg said: "Yes, we would like to invest further in China but there isn't any specific that I can talk about at this time."

He declined to comment on how much the company might invest, but said that ports would be just one main area of interest.

Maersk was constantly in active discussions with potential Chinese partners, he said on the sidelines of the Boao Forum, an annual gathering of business and political leaders on Hainan island off China's south coast.

Soderberg said international freight rates, which have declined as shipping capacity has grown faster than demand, may have stabilised.

"Freight rates have dropped but they will come up again," he said. "It has been historically fluctuating and I think that this will continue also in the future," he said.

If the market volume was as strong as he expected, it was possible freight rates could rise again from as early as this year, he said, adding that it was hard to predict market trends with any certainty.

Maersk operates the world's largest container shipping line and Morgan Stanley this month initiated coverage of the company's shares with an "underweight" rating, reflecting weakness in container rates that the brokerage expects in the next 12 to 18 months.

Soderberg said the recent decline in freight rates was not too much of a concern for the company. "We have gotten used to these fluctuations so we will take it as it comes," he said.
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Old June 14th, 2006, 08:23 PM   #107
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UAE ports giant to invest in Chinese container terminal

DUBAI, June 13, 2006 (AFP) - Dubai's DPWorld, one of the world's largest container-port operators, said Tuesday it plans to invest 500 million dollars in a new container terminal in the northeastern Chinese city of Tianjin.

DPWorld said it met with a visiting delegation from Tianjin municipality and signed a letter of intent with the Tianjin Port Group to develop a terminal being built on a man-made island off the city's coast.

The terminal will have a capacity of 2.2 million TEUs (20-foot equivalent container units) and is expected to be operational by 2011.

Tianjin is already home to China's fifth largest container port.

DPWorld, which is controlled by the Dubai government, became one of the world's top three container-port operators following its 6.9-billion-dollar acquisition of Britain's Peninsular and Oriental Steam Navigation Co earlier this year.
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Old July 6th, 2006, 05:02 PM   #108
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INTERVIEW-China river port firm hopes to break-even in 2007
By Alison Leung

HONG KONG, July 5 (Reuters) - River port operator CIG Yangtze Ports PLC. hopes to break even in 2007 despite tough competition, and will embark on a HK$500 million second-phase expansion in central China as early as next year.

CIG Chairman Edward Chow is placing all his bets on container terminals and logistics in the central China city of Wuhan, spurred by the city's growth potential -- especially as Beijing tries to develop the economy of its less affluent central region.

The firm is one of a number that run terminals along the Yangtze, which Chinese media have described as the world's busiest fresh-water route in terms of freight volume.

"We are investing in a high-growth industry," Chow told Reuters in an interview in a tiny office piled high with maps, documents and Chinese sculptures in downtown Hong Kong.

CIG has an 85 percent stake in the two-berth Phase I of Wuhan International Terminal (WIT) Port and is planning to develop four berths in Phase II via investment of HK$500 million -- lifting annual capacity to 1.2 million 20-foot-equivalent units (TEUs) by 2010 from 400,000 TEUs at the end of 2006, he said.

The company could use bank loans or other debt instruments to fund its next expansion. CIG has total debt of HK$130 million and up to HK$30 million cash on hand.

Chow was disappointed by CIG's listing on the city's Growth Enterprise Market last September, in an initial public offering that raised just HK$72 million.

"We are now looking at the possibility of listing in other markets such as London," he said.

CIG shares were untraded on Wednesday. They ended Tuesday at HK$0.56, down about 7 percent from an IPO price of HK$0.60.

The stock underperformed peers last year, including Xiamen International Port Co. , Dalian Port (PDA) Co. Ltd. and Tianjin Port Holdings Ltd. , which have gained between 20 percent and 49 percent from their IPO prices.

GROWTH POTENTIAL

WIT moved 51,000 TEUs of goods in the first half of 2006, compared with 59,000 TEUs for the whole of 2005.

The company forecasts throughput will exceed 100,000 TEUs this year, and rise by about 30 percent in 2007 with the second berth starting operations in the third quarter of this year.

"China has been enjoying double-digit growth in throughput, which is estimated at 2.8 times the country's GDP (gross domestic product) growth," Chow said.

But Chow said he expects his firm to stay in the red in 2006 following a net loss of HK$11.5 million in 2005, because it will take time for traffic at the two-year-old terminal to grow to a break-even point of 180,000-200,000 TEUs a year under the current low-tariff environment.

"We have complained to the government that handling charges of 220 yuan per TEU is far too low," compared with the government's guidance price of 425 yuan/TEU, Chow said.

Chow said WIT and its competitor, the Yangsi Terminal run by rival Wuhan Port (Group) Ltd., were charging an average of 220 yuan per TEU. But Yangsi gives transhipment customers priority at Shanghai Waigaoqiao terminals controlled by a shareholder, Shanghai International Port (Group) Co, Chow said.

He added that CIG was in talks with Mitsui O.S.K. Lines and others to establish sea routes between Wuhan and South Korea and Japan.
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Old July 21st, 2006, 02:53 PM   #109
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Shanghai port group looking to expand overseas: report

SHANGHAI, July 3, 2006 (AFP) - The Chinese company that runs Shanghai's port is aiming to acquire operations in the United States, Europe and Asia despite the risk of a political backlash, the Financial Times reported Monday.

Government-owned Shanghai International Ports Group is eyeing interests globally in line with Beijing's encouragement for its companies to invest overseas, the paper said.

"Our strategy of investing overseas has not been implemented yet but very soon you will see some projects," the paper quoted Shi Jingcun, an executive in the office of the group's board of directors, as saying.

"In order to benefit from stable and strong growth in our ports operation, we need to look at other opportunities."

Shi said the group would look at opportunities in the United States, Europe and Asia, according to the Financial Times.

But he acknowledged there could be political opposition in Europe and the United States to such moves, saying a "stable political environment" was essential before any acquisitions could be made.

A political storm erupted in the United States this year over an attempt by a United Arab Emirates government-owned company to manage six American ports.

DP World had won the rights to operate six main US ports through a multi-billion-dollar deal in which it acquired British P and O.

But in March it announced plans to sell the US part of its P and O acquisition following massive US Congress opposition that centered on security concerns over a deal involving an Arab state.

China suffered a similar defeat in the energy sector last year, when opposition in Washington scuppered an attempt by China National Offshore Oil Corp to buy the US oil firm Unocal.

The Shanghai port is the world's third biggest in terms of container operations and busiest in terms of cargo throughput.
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Old August 9th, 2006, 02:17 AM   #110
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Shanghai Port shareholders OK buyout by parent

SHANGHAI, Aug 8 (Reuters) - Shanghai Port Container Co. Ltd. , a cargo services operator, said on Tuesday its shareholders had approved a proposal by parent Shanghai International Port (Group) to buy it out.

More than 97 percent of shareholders who participated in a meeting on Monday agreed with the plan, the company said in a statement published in the official Shanghai Securities News.

Shanghai International Port (Group), China's biggest port, has announced a plan to list on the Shanghai Stock Exchange after buying out the listed company in a deal worth over $1 billion. No timetable has been announced for the deal.
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Old August 9th, 2006, 02:19 AM   #111
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Shanghai Port aims to buy into Zeebrugge terminal

SHANGHAI, Aug 7 (Reuters) - Shanghai International Port (Group) is likely to buy a minority stake in a container terminal in Zeebrugge, Belgium, company officials said on Monday.

Danish group A.P. Moeller-Maersk <MAERSKb.CO> has agreed in principle to sell a stake in the terminal operation, but the size and price are under negotiation, said Shi Jingcun, director of the policy research department for the board of SIPG's listed unit.

"We have a project in mind and there's an 80 percent probability that we will buy into the project," SIPG president Chen Xuyuan told a shareholder meeting.

SIPG plans a full listing on the Shanghai stock exchange in early September, if all goes smoothly with regulators, Chen also told the meeting. The listing would follow the buyout of its listed unit, Shanghai Port Container Co. Ltd. .

A majority of shareholders at the meeting on Monday voted to approve the buyout. SIPG offered investors either 16.50 yuan in cash or 4.5 shares in the parent, priced at 3.67 yuan each, under the terms of the 8.9 billion yuan ($1.1 billion) buyout.

SIPG is interested in investing in foreign ports to internationalise its business, Chen said.

It is developing its majority-controlled Yangshan port in Shanghai. Maersk is an investor in Yangshan and when completed, the 100-billion-yuan port could help Shanghai edge out Singapore and Hong Kong as the world's largest container destination.

APM Terminals, Maersk's container terminal arm, recently completed Phase I of its Zeebrugge facility and the first ship called in May. Jakob Larsen, an official at APM Terminals' communications office in the Hague, said on Monday that he could not confirm any talks with SIPG.
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Old September 4th, 2006, 06:56 AM   #112
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China Dalian Port suspends plan to buy rival

SHANGHAI, Sept 4 (Reuters) - Dalian Port , operator of China's third-largest oil port, has suspended its plan to buy Jinzhou Port Co. Ltd. , a smaller rival also located in northeast China. Jinzhou Port said in a brief statement on Monday that conditions were not ripe for Dalian to buy its shares. It did not elaborate.

Dalian Port raised US$277 million in an initial public offer in Hong Kong in April. It handles 10 percent of China's crude oil imports and 20 percent of its refined oil exports.
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Old September 23rd, 2006, 01:59 AM   #113
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China's biggest port poised to list soon

SHANGHAI, Sept 22 (Reuters) - Shanghai International Port (Group) Co. Ltd., China's biggest port, said on Friday it would delist its cargo service unit in October and list the group soon after, as Beijing pushes China's top companies to issue equity in their home markets.

Shanghai Port will delist its Shanghai Port Container Co. Ltd. unit after it issues 2.422 billion A-shares at 3.67 yuan each, to buy out the unit, it said in a statement.

Although the deal will be worth 8.89 billion yuan ($1.1 billion), no proceeds will be raised because all new shares issued will be used to swap with existing shares in the unit at a proportion of 4.5 shares new shares versus one existing share, it said.

Investors unwilling to participate in the swap can sell shares in the unit at 16.50 yuan each to one of Shanghai Port's major shareholders -- Shanghai State-Owned Assets Management Co. and Merchants Securities -- who will swap and hold the newly issued shares.

Shanghai Port Container's A-shares, which are open to local investors, closed at 16.38 yuan on Thursday.

In recent years, many big Chinese companies have listed their shares outside mainland China due in part to the weakness and lack of transparency of their home stock markets.

Beijing is now encouraging a slew of firms, including many blue chips, to issue equity domestically, giving local investors the chance to buy shares in these firms for the first time.
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Old November 2nd, 2006, 09:09 PM   #114
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INTERVIEW-Maersk urges China to open river transport

SHENZHEN, China, Nov 2 (Reuters) - Top global container shipping line A.P. Moller-Maersk <MAERSKb.CO> is lobbying China to open its fast-growing river transportation sector to foreign operators, saying they could make internal trade more efficient.

The Danish shipping giant wants to grab a slice of thriving shipping along the waterways of the Yangtze River Delta -- of which Shanghai forms the crux -- and other regions across the sprawling nation of 1.3 billion people.

Internal trade within the country amounted to some 1.25 billion tonnes in 2005 and is swelling, officials say.

Maersk partner Tommy Thomsen told Reuters his company had broached the issue with the Chinese government but did not anticipate a quick decision on the matter.

The river sector is now walled off to foreigners. Executives argue that foreign investment and expertise in China's logistics industry would help resolve transport bottlenecks now hampering the country's economic growth.

"Today as an international operator, you are not allowed to do so," Thomsen told Reuters in an interview on the sidelines of the shipping forum in the southern city of Shenzhen.

"The most encouraging thing is they are willing to have a debate."

Logjams at major ports and along internal transport routes have long been a business headache in China, pushing up the price of coal for instance, or rendering delivery times patchy for logistics-reliant industries from retail to auto-making.

And the situation in China is much worse than in other countries, Thomsen said.

LOGISTICS LOGJAM

"Logistics costs about 20 percent of GDP in China but only 5 percent in the United States and some 5 to 10 percent in European nations," he said.

"It takes a longer time for a container to be transported from Sichuan province to Shanghai than from Hamburg to Shanghai," he said, referring to the southwestern region of China.

River transportation has long been crucial to a massive country with inadequate roads and rail lines. Along the Yangtze River, smaller ships bring cargoes from Shanghai upriver to inland cities.

Foreign shipping companies now contract local vendors on the river, but the process can be cumbersome because operators often differ from province to province.

Maersk would initially like to consider forming partnerships with some of the existing operators, Thomsen said.

Then it would be more able to optimise flows from major ports to upriver locales. With continuous growth in river trade there might also be opportunities to invest in river ports, he added.

Maersk has investments in container ports throughout China, including at terminals in northern Dalian and Tianjin, southern Xiamen and Shenzhen, and eastern Shanghai -- the country's largest port of call.
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Old November 29th, 2006, 05:54 PM   #115
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China spends $2bln to buff Yangtze traffic -Xinhua

HONG KONG, Nov 29 (Reuters) - China will spend $2 billion over the coming five years to improve navigation and terminals along the Yangtze River, the world's third-longest waterway, the official Xinhua News Agency said on Wednesday.

By 2010, freight transport via the artery, which traverses the country's east and south, is projected to hit 1.3 billion tonnes a year, Xinhua quoted Li Jiansheng, an inspector with the Ministry of Communications' Water Transportation Department, as saying.

The ministry called on local governments to build ports and facilities for containers, oil and liquefied gas, mineral ore, coal and roll-on-roll-off car vessels.

Last year, China invited foreign and private shipping firms to build ports and logistics facilities along the river, especially direct river-to-ocean transportation facilities.

Cities along the river, such as Shanghai, Nanjing, Wuhan and Chongqing, would play a key role in coordinating the development, Li told provincial and city transportation officials at a meeting in Chongqing on Tuesday.

Seagoing vessels would be able to navigate the 2,838 kilometre-long main channel of the river all the way from Shanghai to Chongqing, after the Three Gorges Hydropower Project raised water levels.

The Yangtze river valley produces one-third of China's total grain output and one-third of the country's gross domestic product, Xinhua said.

About 80 percent of iron ore, 72 percent of crude oil and 83 percent of coal for power generation in the nearby area along the Yangtze river are transported by vessels, Xinhua quoted the official as saying.
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Old December 8th, 2006, 04:43 PM   #116
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Hutchison may bid for third phase of Yangshan port
South China Morning Post
December 8, 2006

Hutchison Whampoa, Modern Terminals and other international port operators may bid for the development of the third phase of Shanghai's Yangshan port, Shanghai International Port Group said.

Chen Xuyuan, the president of Shanghai International Port, said yesterday the company is inviting bids from strategic investors for the new deep-water port, whose first phase started operations late last year.

Several overseas port operators have shown interest, including Hutchison and Modern Terminals, Singapore's PSA and Denmark's AP Moller-Maersk, Mr Chen said.

"Our goal is to become a leading world port operator. We'll take a more open strategy to raise our operational and management ability to international standards," he said.

He said Shanghai's port has been co-operating well with Hutchison chairman Li Ka-shing for many years and that Mr Li has shown "keen interest" in the third phase of Yangshan.

The Shanghai company is studying the operational model for the third phase, which is expected to be announced early next year.

The third phase will be completed before 2010 with seven deep-water berths along a 2.6km stretch.

According to official forecasts, Shanghai will handle more than 20 million 20-foot boxes this year, making it the world's third-busiest port behind Singapore and Hong Kong.

It is expected that Yangshan will increase its capacity fivefold to 15 million boxes a year by 2012 from three million boxes now.

Mr Chen expects the company to complete the acquisition of a 40 per cent stake in Belgium's Zeebrugge port from Maersk and form a joint venture by the first half of next year in an effort to explore overseas markets.

The group is also looking for more potential acquisition targets.

Shares of Shanghai International Port fell 3.62 per cent to 6.66 yuan.
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Old December 11th, 2006, 03:38 AM   #117
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China top port builder prices IPO at top end-sources

HONG KONG, Dec 9 (Reuters) - China Communiations Construction Co., the country's top ports builder, raised US$2.1 billion after pricing its Hong Kong initial public offering at the top of an indicated range, sources familiar with the deal said on Saturday.

The firm, which is involved in infrastructure construction, design, dredging and port machinery manufacturing, sold 3.5 billion H shares, or 24.5 percent of its enlarged share capital, at HK$4.60 a share, compared with its price range of HK$3.40 to HK$4.60 per share.

The company's shares are set to begin trading on Dec.15 under the stock symbol "1800" <1800.HK>.

The offering was being sponsored by UBS <UBSN.VX>, Merrill Lynch <MER.N> and BOC International.
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Old December 12th, 2006, 03:37 AM   #118
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INTERVIEW-Maersk's port arm aims for major China expansion
By Fang Yan

SHANGHAI, Dec 11 (Reuters) - Greater China will generate about one-third of Danish shipping and oil giant A.P. Moeller-Maersk <MAERSKb.CO> port arm's container throughput by 2010 as it opens more terminals in the region.

APM Terminals, which started investing in Chinese terminals in the mid-1990s, has been speeding up expansion in the area since 2001 as robust global trade with Asian countries drives demand for freight services.

China, Hong Kong and Taiwan accounted for a quarter of the company's global volume of 24 million twenty-foot equivalent units (TEUs) in 2005, while the region made up 28 percent of the world's total container throughput, Richard Nicholson, vice president of APM's Greater China Area, told Reuters in an interview in Shanghai at weekend.

The region is forecast to have a 34 percent global market share by 2010, Nicholson said.

"We are a little bit below the global average, but we have a a number of projects on line and that will boost us to that level by 2010," he said.

He declined to disclose capital spending and profit projections or the region's historical sales contribution to overall revenue.

APM, which competes with Hutchison Whampoa Ltd. and others for global port investment, would have 11 terminals in Greater China up and running before 2010, he added.

It is scheduled to open at least four jointly-run terminals in major Chinese coastal cities, including Shanghai, Xiamen and Tianjin in coming years, he said.

Nicholson was in Shanghai -- on track to overtake Hong Kong and Singapore to become the world's largest container port -- to celebrate the completion of the the second phase of the multi-billion-dollar Shanghai Yangshan port. APM has a 32 percent stake in Yangshan, the city's first deepwater terminal.

While expressing an interest in investing more in Yangshan, which will be developed in five phases, Nicholson said he had no detailed plans as yet.

The company was currently focused on putting into operation the second phase -- which still needs roughly six months to go through the approval process, he said.

"We were involved in the existing part of Yangshan and everything in the future we will be interested in. But which phase, when are too soon to know."

Shanghai, the world's number three container port by volume, is inviting foreign investors to join Yangshan's third phase, which will have seven berths and is scheduled to start operations before 2010.

Other potential investors in Yangshan Phase III include Singapore port operator PSA International [PSA.UL], Hutchison Whampoa and the world's top 10 shipping firms.

Investors in Phase II include Hutchison's port arm, Hutchison Port Holdings, which also owns 32 percent. Shanghai International Port (Group) (SIPG), which is 30 percent-owned by China Merchant Holdings (International) , controls 16 percent. COSCO Pacific and China Shipping Group control 10 percent each.

Phase two, which cost $740-$870 million, brings the total number of berths at the existing Yangshan project to nine, with a designed annual capacity of 4.3 million TEUs.
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Old January 27th, 2007, 06:41 AM   #119
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Ports get priority as China caters for growth.
The nation’s economy has grown at double-digit rates for the past four years

26 January 2007
Lloyd's List

IN ORDER to cater for its rapidly growing economy China has prioritised expansion of its port network in the country’s 11th five-year plan.

The country’s port handling capacity was measured at 4.9bn tonnes.

But with double-digit growth in gross domestic product over the past four years, and the fastest growth for 15 years recorded at 10.7% last year, the authorities are determined to keep bottlenecks to a minimum over the next five years.

Last year, China’s total exports of primarily manufactured goods was estimated at $969.1bn, up 27.2% on the 2005 figure.

The value of total imports has been estimated at $791.6bn, up 20% on 2005.

At the end of the year China’s foreign reserves hit $1.06trn, a rise of $247.3bn from the end of 2005.

This year the focus will be on constructing and expanding docks for oil, containers and ore.

Last year much of the finance for expansion had come from state-owned companies listing in Hong Kong and Shanghai.

Tianjin, Dalian and Qingdao set records for their initial public offering values as investors have come to view terminals as gold plated long term assets.

Other ports such as Shanghai, Da Chan Bay and Ningbo have also benefited from foreign investment by the likes of Modern Terminals and Hutchison Port Holdings.

If China’s port expansion plans stay on course they will increase port handling capacity by more than 80% to 6.1bn tonnes.

Container capacity is likely to 140m teu at the same time.

In laying out such an ambitious expansion plan the Chinese authorities have been mindful of the more recent upward trend in domestic consumption.

Last year domestic consumption increased 13.7%, a statistic which is already putting pressure on the nation’s domestic fleet.
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Old February 13th, 2007, 03:26 AM   #120
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Philippines port operator in first venture in China

MANILA, Feb 13, 2007 (AFP) - Philippines-based International Container Terminal Services Inc. said Tuesday it is to acquire a majority stake in a Shandong province port operator in its first foray into the China market.

ICTSI said Hong Kong-based holding firm ICTSI (Hong Kong) Ltd. signed a joint venture accord with Yantai Port Group Co. Ltd. and SDIC Communication Co. to buy 60 percent of Yantai Gangtong Container Terminal Co Ltd.

State-owned Yantai Port Group and SDIC Co are to retain 20 percent each of Gangtong Container, subject to regulatory approvals, ICTSI said in its company magazine. The cost of the venture was not disclosed.

Yantai, the country's 10th busiest port, serves the heavy industrial base of northeastern China and handled 1.17 million 20-foot equivalent container units last year, a 68.4 percent increase over 2005, it added.

The Filipino firm also operates ports in Brazil, Indonesia, Japan, Madagascar, the Philippines, Poland and Syria.
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