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Old February 14th, 2007, 04:30 AM   #121
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China Merchants to invest in Tianjin terminal

HONG KONG, Feb 14 (Reuters) - Chinese port operator China Merchants Holdings (International) Co. Ltd. said on Wednesday it planned to invest in a 3 billion yuan-plus ($387 million) container terminal project in China's northern city of Tianjin.

Its state-owned parent, China Merchants Group, recently signed a framework agreement with Tianjin Port (Group) Co. Ltd. to develop port, logistic and real estate projects in the city's Dongjiang bonded zone.

Hong Kong-listed China Merchants will participate in the development of the container terminal, which will have four berths, worth more than 3 billion yuan, chairman Fu Yuning told reporters.

Fu, who signed the agreement with Tianjin Port this year, is also the president of the parent company.

Construction of the terminal was expected to start in 2010, Fu said.
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Old March 21st, 2007, 05:42 AM   #122
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Southern gateway eyes further expansion
15 March 2007
Lloyd's List

SHENZHEN, comprising the three ports of Yantian, Chiwan and Shekou, again saw a storming rise in throughput to 18.46m teu, up 14% year-on-year, to further widen the distance with fifth-placed Pusan, writes Keith Wallis.

The record growth again reflects Shenzhen’s position as one of the key export gateways for southern China’s manufacturing powerhouse in the Pearl River delta

Yantian in the east and Shekou and Chiwan in the west of Shenzhen have continued to see the strong growth reported last year after the Shenzhen municipal ports administration said box volumes rose 10% in January to almost 1.65m teu.

But last year was more than just increasing box volumes as terminal operators at Yantian and Shekou also sought to strengthen their presence at both terminals.

At Yantian, Hutchison Port Holdings, through its offshoot Yantian International Container Terminals (Phase III), went ahead with the third phase of the expansion of the container terminal. The project, costing more than Yuan10bn ($1.29bn), involves the construction of six deepwater container berths.

The first two berths became operational last September, while the remaining four berths are due to come on-stream by the end of 2009 and the entire project will be completed in 2010.

The new berths are expected to boost capacity at Yantian to about 13m teu, compared with throughput last year of about 9m teu.

Across the other side of Shenzhen at Shekou, the leading shareholder in Shekou Container Terminal, China Merchants Holdings (International), agreed to pay HK$3.17bn ($406.4m) to buy out the stakes held in SCT by two other shareholders.

Under the deal, which is expected to be approved by shareholders later this month, Hong Kong-listed China Merchants Holdings (International) will pay HK$1.78bn to P&O Dover (Holdings), an offshoot of DP World, and HK$1.39bn to Swire Pacific. The share purchase will boost China Merchants stake in SCT to 70%. Existing SCT shareholder Modern Terminals will also spend HK$3.17bn to increase its stake in SCT from 6% to 30%.

As part of the deal, China Merchants and Modern Terminals will form a joint venture company, Mega SCT, which will hold their investments in SCT. Modern Terminals will have an option to sell its 30% in Mega SCT to China Merchants for HK$3.96bn one year after the deal is completed. But Modern Terminals interest in Mega SCT will be gradually reduced to a 20% holding as SCT’s five-berth third phase becomes operational.

Modern Terminals will transfer a 3% interest to Mega SCT once berth 7 is completed, and transfer a further 2% stake when berth 8 comes on stream. The remaining 5% interest will be transferred when berth 9 is commercially operational at the end of 2009.

Overall, the third phase will boost SCT’s total capacity to about 4m teu.

The changes in shareholdings will clarify the ownership of SCT, which has been developed piecemeal.

Chiwan Container Terminals, next door to Shekou Container Terminal, has faced no such changes and has been able to concentrate developing its box business. The company, which is controlled by China Merchants, reported a key milestone at the end of last year when Chiwan Container Terminal handled more than 5m teu, up 22.5% on 2005.
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Old April 19th, 2007, 04:46 AM   #123
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INTERVIEW-Tianjin Port plans new projects, ups capex

HONG KONG, April 18 (Reuters) - Tianjin Port Development Holdings Ltd. said on Wednesday it planned to invest an initial 700 million yuan (US$90.7 million) in a logistics project and buy a 40 percent stake in a container terminal firm in China's northern port city of Tianjin.

The two projects will more than double the port operator's capital expenditure in 2007 to 1.7 billion yuan from an initial estimate of 800 million yuan, Zhang Jinming, an executive director, said.

The company, which operates China's fourth-largest port, listed in Hong Kong in June and is a unit of Tianjin Development Holdings Ltd. , which is controlled by the Tianjin municipal government.

Executive Director Yu Rumin, who will take over as chairman in May, told Reuters in an interview that Tianjin Port had signed a memorandum of understanding to buy a stake in Tianjin Port Alliance International Container Terminal Co. Ltd., which operates Beigangchi terminal phase A, from Tianjin Port Group.

Yu, who is also the president of Tianjin Port Group, would not say how much the investment in the terminal project was worth. However, he said the sale by Tianjin Port Group showed confidence in the Hong Kong-listed firm.

"We hope to complete the deal as soon as possible," said Yu, who is also chairman of Shanghai-listed Tianjin Port (Group) Co. Ltd. .

Hong Kong-listed Tianjin Port Development, which doubled its 2006 net profit to HK$304 million (US$39 million), operates five container berths in Tianjin port and moved 2.49 million twenty-foot-equivalent units (TEUs) of goods last year, up 22 percent.

However, its non-containerised cargo handling business fell 9.4 percent in volume to 16.6 million tonnes in 2006.

COMPETITION, GROWTH

Yu said there was no competition between Tianjin Port Development and sister firm Tianjin Port (Group), which is also owned by the Tianjin city government, although both operate container terminals in the city.

There was no immediate plans or discussions on possible shareholding restructuring between the two firms, he said.

Tianjin Port Development has teamed up with COSCO Pacific Ltd. and A.P. Moeller-Maersk's <MAERSKb.CO> unit APM Terminals to invest 3.6 billion yuan to develop Beigangchi terminal phase B with a planned capacity of 1.8 million TEU. Phase B will start operation in late 2008 or early 2009.

The two phases of the Beigangchi terminal will boost Tianjin Port Development's annual handling capacity to 6 million TEUs by 2010 from 1.92 million TEU last year, Yu said.

Tianjin Port Development agreed to invest 700 million yuan in the first phase of a logistics project in Dongjiang port in Tianjin and is in advance talks with an international logistics operator to form a joint venture to develop the project.

Tianjin will invest 300 million yuan this year in the project, Zhang said, without giving other details.

Shares in Tianjin Port have surged 56.5 percent this year to close at HK$3.85 on Wednesday, beating a 0.2 percent gain on the index for Chinese companies listed in Hong Kong <.HSCE>. (US$1=7.722 Yuan)
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Old April 20th, 2007, 12:11 PM   #124
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Shanghai port knocks Hong Kong off No2 spot Shenzhen expected to overtake the city by next year
19 April 2007
South China Morning Post

Shanghai has overtaken Hong Kong as the world's second-busiest port behind Singapore, according to first-quarter throughput figures released by the Hong Kong Port Development Council, marking another drop down the rankings for the former No1.

The mainland port outstripped Hong Kong by 380,000 20-foot equivalent units (teu) in the first three months and is expected by analysts to remain ahead at the end of the year.

Hong Kong lost its position as the world's busiest port in 2005, when it was overtaken by Singapore. Within two years, the city has slipped behind Shanghai and is poised to fall further, with fast-growing Shenzhen port expected to overtake it next year.

"It won't take long. Shenzhen will outstrip Hong Kong as the third-largest port next year," said Sunny Ho Lap-kee, executive director of the Hong Kong Shippers' Council.

Hong Kong port, including container terminals at Kwai Tsing, the river terminal and mid-stream services, handled 5.5 million teu in the first quarter, up 2.3 per cent over the same period last year. Shanghai moved 5.88 million teu, up 28 per cent. Shenzhen throughput rose 8.2 per cent to 4.26 million teu.

Throughput at Hong Kong declined 8.8 per cent last month after 5.4 per cent growth in January and a 14.2 per cent increase in February. Shenzhen also had mild growth last month.

Mr Ho attributed the slow growth at the start of the year to seasonal effects related to the Lunar New Year, which this year extended to March.

Hong Kong is being overtaken by mainland ports as the city's industrial plants have moved across the border and further up the Pearl River Delta, where exporters are increasingly choosing Shenzhen as their port of call.

In 1994, Hongkong International Terminals, the largest port operator in Hong Kong, started building a container terminal in Yantian to capitalise on the movement of shipments to Shenzhen.

Shanghai was a different story, said a transport analyst. The city is at the helm of the Yangtze River economic zone and cashing in on the economic growth of the region. The Shanghai government pressed hard to make the city the largest port in the world, let alone China, by constructing the 18 billion yuan Yangshan Port.

The local government has also introduced concessions and government instructions to divert shipments to Yangshan.

Relay handling charges for cargo containers moving to and from locations in the Yangtze River delta were cut 53 per cent and shuttle rates between Shanghai's older port at Waigaoqiao and Yangshan were lowered in May last year to 150 yuan from 350 yuan per teu.

After implementation of the measures and an order that Europe-Asia trade be reallocated to Yangshan from Waigaoqiao, Yangshan handled a remarkable 3.25 million teu throughput in its full-year of operation last year.

A second phase of the port, which went on stream in December, will add four more berths by next year.

Shanghai International Port Group, the main operator in Shanghai, is looking to its hinterland along the Yangtze River to lengthen its catchment area, reaching as far as Wuhan, in Hubei province.

As for Hong Kong, the problems of the terminal business have been addressed by the industry for years but the city's government has yet to implement effective measures to stem the damage.

A proposed bridge linking Hong Kong to Macau and Zhuhai has yet to be decided on, as has the construction of Container Terminal 10.
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Old April 23rd, 2007, 09:33 AM   #125
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COSCO's container volume, revenue rise in Q1

HONG KONG, April 23 (Reuters) - China COSCO Holdings Co. Ltd. , the listed flagship of the country's premier shipping conglomerate, said container volume at its container shipping business and its container shipping revenue rose in the first quarter of 2007.

China COSCO said in a statement container shipping volume increased 14.5 percent to 1.30 million twenty-foot equivalent (TEU) units for the quarter ended in March, compared with the same period a year earlier. It gave no details on the increase.

Its total container shipping revenue rose 13.7 percent from a year earlier to 8.29 billion yuan (US$1.07 billion).

China COSCO said total throughput of its container terminal business rose 26.6 percent in the first quarter to 8.80 million TEUs.
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Old May 14th, 2007, 11:54 AM   #126
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Beijing rejects terminal charge hike by shipping cos

HONG KONG, May 3 (Reuters) - China's Ministry of Communications has rejected a proposal by shipping companies to raise terminal handling charges (THC) in south China by up to 339 percent, saying the increase was not justified.

The ministry said in a recent circular that the proposal by four shipping representative groups did not provide sufficient information and had no reason to justify such a hike.

The proposal was made by the Intra-Asia Discussion Agreement (IADA), the Informal Rate Agreement (IRA), the Informal Red Sea Agreement (ISAA) and the Informal South Asia Agreement (IRSA).

Shipping agreements, called conferences in the 1990s, are formed by shipping companies to discuss prices and other issues relating to the industry.

The groups aimed to raise terminal handling charges in South China, such as Guangzhou and Shenzhen, by 186 percent to 339 percent, or 691 yuan ($90) to 2,073 yuan per container box, depending on the size of the boxes and routes, from May 15.

Shipping firms introduced terminal handling charges to China in 2003.

They charge about HK$1,800 ($230) per 20-foot equivalent unit (TEU) in Hong Kong compared with 370 yuan in south China, Sunny Ho, Executive Director of the Hong Kong Shippers' Council, said on Thursday.

Shippers in Hong Kong have complained about a lack of transparency on the fixing of terminal handling charges and demanded a cut as terminal operators claimed they had adjusted down charges against shipping firms in the past few years.

"Shipping lines have been abusing the market. They continue to ignore the fact that terminal handling charges are part of the ocean freight rate," said Toland Lam of Shenzhen Shippers' Association.

"This is nothing more than blackmail," he said in a joint statement by shippers' associations in Hong Kong, Shenzhen and Macau.

High fuel costs and declining freight rates had put pressure on the margins of container shipping firms, which were eager to find ways to soothe cost pressures, analysts said.

Members of the shipping agreements include Coscon, the container shipping arm of China Cosco Holdings , Evergreen Marine Corp. , Hapag-Lloyd, Hyundai Marine , OOCL of Orient Overseas (International) Ltd. .

The ministry ordered the four agreements to cancel such collective raises and all members of ISAA and IRSA to cease carrying out any rate fixing-related agreements for one year. ($1=7.705 Yuan)
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Old May 14th, 2007, 11:55 AM   #127
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Workers at major southern Chinese port end strike for overtime payment
3 May 2007

HONG KONG (AP) - Workers at one of the world's busiest ports ended a rare strike for overtime payment after management agreed to come up with a solution next month, the company said Thursday.

Crane operators and truck drivers at the Chiwan Container Terminal in the southern Chinese boomtown of Shenzhen had stopped working at midnight on Tuesday, International Labor Day. They complained about wages and have accused management of failing to pay them overtime as required by labor laws.

Qu Jiandong, deputy general manager of the Chiwan Container Terminal, said management has set up a committee to settle the dispute with workers, but did not guarantee to agree to all their demands.

"The issue regarding workers' demands will be resolved in a month," Qu told The Associated Press by phone. "We cannot unconditionally fulfill all their demands. There are regulations in the labor market."

Operations at the port resumed at 5 p.m. Wednesday, said Qu, who refused to reveal how many of the 700 workers at the dock went on strike. Only "a small number of people participated," he said.

Hong Kong's South China Morning Post had reported that more than 400 workers staged a sit-in outside the container terminal's headquarters on Tuesday.

Hong Kong's Kerry Holdings Limited, who holds 25 percent of the container terminal, said the company was not in a position to comment as it did not handle the terminal's daily operation, said spokeswoman Emily Kwan.

Chiwan Container Terminal is one of the world's busiest. According to its Web site, it processed 5 million 20-foot equivalent units of containers in 2006.

It is a joint venture among Chiwan Wharf Holdings Limited, Kerry Holdings Limited and Hidoney Development Limited.
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Old June 27th, 2007, 06:00 AM   #128
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China Merchants says to invest in Shenzhen terminal

HONG KONG, June 26 (Reuters) - Chinese port operator China Merchants Holdings (International) said on Tuesday it plans to buy a 14 percent stake in a US$954 million container terminal in China's southern boom city of Shenzhen.

The news followed Danish shipping and oil group A.P. Moeller-Maersk's <MAERSKb.CO> announcement that its APM Terminals unit will take a 51 percent stake in a joint venture to develop, own and operate the Shenzhen Dachan Bay Phase 2 terminal.

Municipal government-backed Shenzhen Dachan Bay Port Investment and Development Co. will own 35 percent of the venture and China Merchants will have 14 percent.

China Merchants said a memorandum of understanding had been signed on the project with preliminary estimated total investment of 7.27 billion yuan (US$954.4 million). It will build four container berths with total designed capacity of 2 million twenty foot equivalent units (TEU) a year.

China Merchant's 27-percent owned unit, Modern Terminals Ltd., has a 65 percent stake in the first phase of Dachan Bay container terminal, which will have 5 berths with a designed capacity of 2.5 million TEUs and is scheduled to start operation by the end of 2007.

Shares of China Merchants surged to a record of HK$38.90 earlier on Tuesday before settling at HK$38.55, up 3.07 percent in late morning trade. They have gone up nearly 21 percent this year as a result of China's strong export growth, outperforming a 9.6 percent gain for the blue chip Hang Seng Index <.HSI>.
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Old September 9th, 2007, 06:20 AM   #129
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ANALYSIS-Investors steer warily as Chinese port glut looms

HONG KONG, Sept 7 (Reuters) - Who would have thought there might ever be empty docks in China given the country's racing export machine?

Despite soaring trade, China could have too much container port capacity in coming years if it continues to build facilities at a manic pace and U.S. demand slows.

Major projects alone will add about 60 million 20-foot equivalent units (TEUs) of capacity from now to the end of 2009, equivalent to about 73 percent of the country's capacity last year, Drewry Shipping Consultants estimates.

That's more than the Hong Kong and Singapore, two of the world's busiest ports, combined.

"Given the development plans in the next two and a half years there are concerns in the industry. There may be some overcapacity," said Philip Damas, Drewry's research director.

The pace of growth of China's economy -- now likely into its fifth year of double-digit expansion -- and its growing domestic consumption will help trade gallop ahead in the longer term.

But the rising value of the yuan, tensions between Beijing and trade partners and the spectre of a U.S. economic slowdown following the subprime mortgage crisis could dampen demand for goods made on the world's factory floor.

That is making investors who have feasted on China export stocks more selective, though analysts and industry executives remain bullish that port shares will outperform in the long haul.

"The market's major concern now is the U.S. subprime impact. What is its impact on global growth, not just the United States itself," said Qian Wang, Greater China Economist for JP Morgan.

Containers are used to transport mostly manufactured goods -- electronics, toys, clothes and the like -- and so don't directly benefit from China's rapacious demand for raw materials like iron ore or grain.

China has sunk billions into container ports in hopes of swelling trade, luring the likes of Hong Kong's Hutchison Whampoa , Singapore's PSA International [PSA.UL] and Danish shipping and oil group A.P. Moeller-Maersk <MAERSKb.CO>.

Maersk opened a terminal in southern China's Xiamen city on Thursday, saying ports must expand at a rapid clip to serve a tremendous amount of global trade and avert bottlenecks.

About half a dozen major ports such as Shanghai, Shenzhen and Qingdao are building capacity just ahead of demand, argues Richard Nicholson, vice president of AP Moeller's APM Terminals.

"The other half are building capacity far ahead of demand - whether to attract cargo, to attract business partners, or because they have the construction teams already in place," he said. "Of course, that has an impact on their economics."

"Going down the coast from Dalian to Tianjin, Ningbo and Xiamen -- those mid-sized ones might see a glut," he added.

Shares in port operators listed in Hong Kong have boomed in recent years, with many stocks doubling or tripling or more.

But the sector has lagged of late, with Xiamen International Port losing a tenth of its value in three months while the H-share index <.HSCE> for Chinese firms gained 32 percent.

"We now stay defensive. If you stay defensive on shipping or anything related to exports, you should reduce a little bit of the weighting," Yang Liu, managing director of Atlantis Investment in Hong Kong, told Reuters.

TRAFFIC - HOW MUCH?

For the longer term, Sun Hung Kai's Eva Yip recommends investors take another look at ports with less-volatile earnings.

Those that have entered a steady growth phase and are expanding capacity, or those who may buy assets from their parents, such as Dalian Port , may outperform, she said.

The stock has risen 16 percent in three months, broadly in line with the market but eclipsing rivals. The firm's business is also more diversified, boasting oil terminals and port services.

(For a table on major Chinese port operators' share performances, please click on [ID:nHKG347509])

The question is, will traffic grow enough?

Chinese ports, led by Shanghai, are now among the busiest in the world. But Shenzhen saw throughput growth slow to 10 percent in July from 13 percent in June, partly because there was a rush to get exports out before tax rebates were cut.

There is also mounting shift of global production to new areas such as India and Vietnam, analysts said.

The latest trade tensions -- spurred by a global backlash against the quality and safety of Chinese-made goods from toys to toothpaste -- might dampen commerce as well.

China's foreign trade growth peaked in 2003 at 37 percent, and fell to 24 percent in 2006. Economists say exports, which rose 28.6 percent in Jan-July, will lose steam in coming months.

Container traffic in China is expected to rise by 20 percent this year and 15 percent next year, compared with more than 25 percent in 2002-2004, Yip said.

"The overcapacity problem probably will occur after 2011 because currently the problem in the port sector is congestion. They do not have sufficient hardware, such as railway systems, to support port facilities," she said.

Additional reporting by Lucy Hornby in Beijing
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Old September 9th, 2007, 06:56 PM   #130
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First China-made 8,530-TEU container ship delivered


www.chinaview.cn 2007-09-09 16:04:35 Print


Super gigantic container vessel "Xin Ya Zhou," meaning "New Asia," China's first with complete proprietary intellectual property rights, is delivered to the owner in Shanghai, east China, Sept. 8, 2007.(Xinhua Photo/Zhang Haifeng)
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BEIJING, Sept. 9 (Xinhua) -- The first 8,530-TEU container ship, of which China owns the full intellectual property rights, had been delivered to China Shipping Container Lines Co. Ltd. (Shanghai) and left for its maiden voyage to the United States on Sunday.

It has made China the fourth country in the world, after the Republic of Korea, Japan and Denmark that is able to design and build such giant container ships, said experts.

The ship, named "New Asia," is the first of five container ships of the same type to be designed and built by Hudong-Zhonghua Shipbuilding (Group) Co. Ltd. for the China Shipping Container Lines Co., Ltd.

The 101,000-dwt container ship, 335 meters long and 42.8 meters wide, can sail at a speed of 25 knots an hour.

The Shanghai-based shipbuilding company spent six years to build the ship, the largest container ship independently designed and built by China. It is one of the mainstream type of container ships in the world.

So far the company has confirmed nine orders for its 8,530-TEU container ships, including four for the Greek Costamare Shipping Co.


http://news.xinhuanet.com/english/20...nt_6691961.htm
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Old September 26th, 2007, 06:57 AM   #131
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Riding the wave of growth
Hong Kong-based companies are reaping the rewards of getting into China early, with major projects under way

21 September 2007
South China Morning Post

It has taken 15 years of rapid industrialisation to transform the Middle Kingdom into the "world's factory". With the production of clothing, toys and mechanical goods, China's ports are booming at an incredible rate. More than 90 per cent of the country's exports and imports transit through its seaports.

According to official statistics, the mainland sifted through 4.85billion tonnes of throughput in 2005. This is expected to exceed 7.5billion in 2010 while its coastal throughput of containers, as measured in teu (20-foot equivalent units), will grow from 74.41million in 2005 to 130million in 2010.

To keep up with the demand, the government has streamlined its investment and construction of ports which place great emphasis on technological and mechanical innovation.

Rapid construction has resulted in a demand for highly qualified maritime engineers.

Riding the wave of this boom is the Scott Wilson Group, which employs more than 450 engineers, planners and other staff in China alone.

Scott Wilson's chief executive, China Division, Peter C.W. Chan cited strong growth patterns in port cargo handling, which had doubled every year since 2001.

"Ports are one of the mainstays of our business," he said. "We have participated in the planning, design and supervision of six out of nine container terminals in Hong Kong, and others in Macau and the mainland. The secret of our success is simply 'tender loving care'.

"We pay attention to our clients. Our staff are committed to immersion in China. It is very important to be there, live there and work there."

Many of the port projects involve joint ventures which are seen as necessary partners in the China construction boom.

"Most companies do not understand the concept of co-operation. It is not easy, nothing is easy, but local joint venture partners have a vast amount of knowledge. We are committed to our partners with patience, dedication and immersion," said Mr Chan who has lived in China for almost 10 years.

Scott Wilson has 5,800 global employees internationally with more than 800 in eight offices across China including Nanjing, Shanghai, Beijing, Tianjin, Zhengzhou, Guangzhou, Shenzhen and Hong Kong.

"We recruit employees from brand-name universities in China, Hong Kong, Australia, Britain and America. These highly trained engineers and planners serve not only in China, but also in Australia, Thailand, India and the Middle East. There is much interest in joining [the company] because of the ability to move from project to project. I joined myself because the group is highly mobile. I wanted to see the world," he said.

As a port or maritime engineer, responsibilities include port planning and cargo forecasting, design of marine structures and infrastructure including quays, jetties, breakwaters, dredging, reclamations, terminal layouts and preparation of tender documentation and construction supervision.

Paul Y. Engineering is another Hong Kong-based company that is aggressively courting the mainland market.

Project director of Yangkou Port in Jiangsu province, Ho Wing-hong said his engineers worked on total project management from design inception to progress design supervision for the 5 billion yuan infrastructure project.

"Construction in Hong Kong uses metres," said Mr Ho. "In China, they use kilometres."

The size of the port project is more than 42 sq km, equivalent to three Chek Lap Kok airports. It includes a 13km bridge into the sea which connects to a 1.4 sq km man-made island.

The project is formally included as part of China's 11th Five-Year Development Plan, and is an integral part of the Jiangsu transport development plan to establish new business. There are 150 vessels working in the sea, with 1,300 workers in marine work and another 800 on the bridge.

The project will take three to four years to complete under a 24 hours a day, seven days a week programme.

"China needs lots of ports because of the import and export demand. Logistically, they need to deliver the goods to the ultimate users. Raw materials need to be brought in for own use. Our port will be used mostly for bulk cargo, liquefied natural gas and petrochemical products."

The construction of such mammoth projects is a major concern to the local environment, but Mr Ho emphasised that the project was being handled with the least adverse impact.

"It is not what outsiders think about working in China. We have clear and stringent environmental laws. It is very important that we take natural conservation into consideration. You can see through our project outlines and designs emphasis is on the concept of environmentalism. The Chinese government is strict on the environment protection issues and safety compliance. The design and work implementation address all such aspects, and we don't want to spoil nature. As a result, the local people are happy with what we have done."

Paul Y. Engineering has been active in much of the mainland including Beijing, Shenzhen, Nantong, Guangzhou and Shanghai. There is an intrinsic understanding that China is expanding and in need of infrastructure.

"A sleeping giant for many years, the sheer size of China is large. Once momentum has been built up, it is difficult to stop. We put in the effort early and are riding the wave now."
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Old October 8th, 2007, 10:55 AM   #132
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China vies for top shipbuilding slot

China vies for top shipbuilding slot

Quote:
By Raphael Minder in Hong Kong, Jamil Anderlini in Beijing, Song Jung-a in Seoul

Published: September 12 2007 18:55 | Last updated: September 12 2007 18:55

China has finally overtaken South Korea as the world’s biggest shipbuilder – at least by one measure.

A 165 per cent surge in first-half orders for China has led to the change at the top in terms of deadweight tonnage.

The claim by the Chinese State Oceanic Administration was endorsed by Seoul on Wednesday. The South Korean commerce ministry, using Clarkson figures, said that China’s first-half orders amounted to 49.9m against Korea’s 42.8m in terms of dwt.

South Korea has a global market share of about 40 per cent, but China’s rise has caused its shipbuilders to look over their shoulders.

However, in terms of compensated growth tonnage, which is normally used for country comparison as it includes added value, South Korea remains ahead with 15.3m tonnes of new orders, compared with China’s 13.8m.

And, in spite of China’s impressive growth, the value of its rival’s order book remains well ahead, as well as the rate of delivery by its more efficient builders.

South Korea boasts the world’s three biggest – Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding and Marine Engineering.

In the first half, South Korean shipbuilders won a record $33.2bn worth of orders, up 51.3 per cent from a year earlier, due to increasingly valuable vessels, such as a $1.8bn production ship Daewoo is building for US oil major Chevron.

Peter Bartholomew, managing director of consultancy IRC, said: “The productivity in the Korean yards is vastly ahead and China only makes up for it by cheap labour. Delivery times are also very reliable, while that is a significant problem in China.”

But Chinese yards are beginning to diversify production. This week, state-owned China State Shipbuilding Corporation delivered the first very large container ship designed and built in China, a category until now only produced in South Korea, Japan and Denmark.
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Old October 24th, 2007, 06:34 PM   #133
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Shanghai seen to be world's No. 2 container port this yr

SHANGHAI, Oct 24 (Reuters) - Shanghai is expected to overtake Hong Kong as the world's second busiest container port this year, helped by rising throughput at the multi-billion dollar Yangshan deep-water port, a senior port official said on Wednesday.

The city port's container volume is expected to top 25.5 million TEUs (twenty-foot equivalent units) this year, lagging only Singpaore, whose volume is estimated to be 27.60 million TEUs this year, Xu Peixing, the director general of Shanghai Port Administration, told Reuters on the sidelines of an industry event.

He did not give a full-year estimation for Hong Kong, which moved 17.7 million TEU of goods in the first nine months, according to statistics provided by the Hong Kong Port Development Council.

Shanghai International Port (Group) Co, China's biggest port operator, controls the city port's major assets.

"Yangshan port has played a big role in boosting Shanghai's container volume," Xu said. "Its full-year container volume is estimated at 5.8 million TEUs."

Yangshan's capacity was at 4.3 million TEUs as of the end of 2006 when the first two phases were completed.

Construction of phase III of the deep water port is going smoothly, with 4 additional berths to be in place by the end of this year and 3 more by the end of 2008, increasing its total number of berths to 16, Xu said.

He added that phase III, which would push up the port's handling capacity to 15 million TEUs by 2012, remained open to outside capital but the name list of foreign investors has yet to be finalised.

He declined to name the potential investors. But local media has named Singapore port operator PSA International and French shipping company CMA CGMere as potential candidates, along with local players China Ocean Shipping Group (COSCO) and China Shipping (Group).

Shanghai had lacked a deep-water port before Yangshan was built. The project, with five phases in total, has attracted strong interest from overseas investors.

A.P. Moeller-Maersk and Hutchison Whampoa Ltd. each hold 32 percent in Phase 2 finished in December 2006.
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Old October 29th, 2007, 11:51 AM   #134
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Shanghai International Port to raise fees next year

SHANGHAI, Oct 25 (Reuters) - Shanghai International Port (Group) Co , operator of the world's busiest port, said on Thursday it would charge higher fees for unloading containers starting next year in a move to boost revenue.

The company will start charging 566.5 yuan ($75.7) for unloading each TEU (twenty-foot equivalent unit) at its Waigaoqiao port, up 10 percent from the previous rate.

Fees at its multibillion-dollar Yangshan deep water port will be raised 21 percent to 515 yuan.

Shanghai International Port expects revenues to increase by 900 million yuan next year due to the higher fees.

A.P. Moeller-Maersk <MAERSKb.CO> and Hutchison Whampoa Ltd. each hold 32 percent in Phase 2 of the Yangshan Port, which was finished in December 2006.

Shanghai is expected to overtake Hong Kong as the world's second busiest container port this year, a senior Shanghai port official said on Wednesday.

(US$1=7.4834 Yuan)
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Old October 29th, 2007, 11:54 AM   #135
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China Merchants plans Shenzhen hub
Group to spend 3.5b yuan on five-berth multi-purpose terminal to fend off competition

29 October 2007
South China Morning Post

China Merchants Holdings International plans to invest about 3.5 billion yuan to build a five-berth multi-purpose terminal in Shenzhen by 2010.

The expansion aims to capitalise on robust cargo throughput growth in the port and fend off competition in the Pearl River Delta, the company says.

An application to build the five berths in Qianhaiwan Port - located strategically at the first exit of the new Western Corridor expressway between Shekou and Hong Kong - had been tendered to the government, said chairman Fu Yuning.

Outlining the group's ambitious expansion plan at a press conference in Shenzhen last Friday, Mr Fu said each berth would cost 700 million yuan to 900 million yuan. The multipurpose terminal, with a quay length of 2,100 metres, could handle raw materials, agricultural products or manufacturing goods, he said.

Final approvals are still pending, he said.

Construction of the first berth in Qianhaiwan will begin next year. Upon the berth's completion, China Merchants will relocate its existing bulk terminal in Jetty One, Shekou, to the new terminal. Jetty One will be redeveloped into a passenger terminal by China Merchants' parent.

Shekou's Jetty One and Jetty Two handle 35 per cent of total agricultural product throughput for Guangdong province. They also handle iron ore imports, recording 4.7 million tonnes of ore throughout last year from four million in 2005.

China Merchants, which marks its 135th year this year, faces increasing competition from other new ports in the Pearl River Delta, where up to five new container berths are due to come on stream each year until 2010 in Nansha, Dachan Bay, Yantian Port and Shekou.

Since its rival Nansha Port adopted a low-price strategy to attract domestic cargo, there had been limited room to raise tariffs in Shenzhen, Mr Fu said. In contrast, Shanghai Port has announced tariff increases of 10 per cent and 21 per cent in its two ports from January next year.

"In general, port charges in Shenzhen Port are 200 yuan per container higher than in Shanghai. So it would be pretty good to have a rate increase in Shenzhen of 6 per cent next year," Mr Fu said.

"We deserve a rate rise because of the investment we have made to optimise the logistics at the port."

Mr Fu does not expect the new container ports coming on stream in the region to outpace demand for his firm's services in the near future. "Port operators here are sensible investors," he said.

The expansion of Dachan Bay and Nansha ports is expected to add 17 core berths and a capacity of 15.5 million 20-foot containers by 2010. This will raise the number of core berths in west Shenzhen and Guangzhou to 33 compared with 15 in Yantian in eastern Shenzhen.

In the west of the delta, where China Merchants is based, competition would increase.

Economic momentum and productivity in the region would allow the port to absorb the new capacity by 2010, Citi Investment Research says in a report.

In the first nine months of the year, China Merchants' operations in Shenzhen handled 18 per cent more containers from a year earlier, while in Hong Kong, throughput at seven berths operated by its 27 per cent owned Modern Terminal rose just 4 per cent.

"In the short term, I don't think Hong Kong needs to build Container Terminal 10," Mr Fu said. "Both the government and the local operators are figuring out methods to further improve productivity of the existing berths."

He said that transshipments were on the rise in Hong Kong but this kind of cargo required less depot space than direct cargo and therefore building CT 10 was less pressing.

China Merchants was a nationwide operator with ports in Tianjin, Qingdao, Shanghai, Ningbo, Zhangzhou, Shenzhen and Hong Kong, Mr Fu said. Nine new berths held or invested in by China Merchants in Shenzhen, Ningbo, Qingdao and Shanghai will come on stream next year and a further six in 2009.
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Old November 1st, 2007, 03:23 AM   #136
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COSCO Pacific 9-month profit climbs 10.7pc
Hong Kong Standard
Tuesday, October 30, 2007

COSCO Pacific (1199), Asia's third- largest container terminal operator, said nine-month net profit increased 10.7 percent, anchored by the mainland's foreign trade.

Earnings for the nine months ended September climbed to US$242.5 million (HK$1.89 billion), or 10.83 US cents, from US$219 million, or 9.9 US cents.

Edward Wong Wing-tat, senior research analyst at Quam, said mainland imports and exports allowed the company to post "encouraging" results.

"Although the US [economy] is a concern, China can still export products to Europe and Asia," Wong said.

Excluding a one-off fair value gain on put options of US$38.2 million, profit before tax surged 17.7 percent to US$212 million. Total revenue fell 3.77 percent to US$223.3 million.

Wong said, however, that sales had been improving. "As the company sold all its old containers last year, COSCO received less income last year. Sales have been recovering in the first half and this quarter as well."

As of September 30, total container throughput amounted to 28.8 million 20-foot containers, up 20.7 percent from a year ago. Throughput at COSCO's overseas container terminals grew 39.1 percent, followed by 28.2 percent in the Bohai Rim, 20.9 percent in the Pearl River Delta facilities (including Hong Kong) and 5 percent in the Yangtze River Delta terminals.
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Old November 2nd, 2007, 06:01 PM   #137
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China shipbuilders plan IPOs
1 November 2007
Financial Times

At least seven Chinese shipbuilders are planning share offerings, underlining China's efforts to build up its domestic fleet and branch out into the construction of more advanced vessels.

The largest of the anticipated initial public offerings is likely to come from state-owned China Shipbuilding Industry Corporation (CSIC), which wants to raise about Dollars 900m on the Chinese mainland A-share market, according to bankers familiar with the situation. The other major state-owned shipbuilder, China State Shipbuilding Corporation (CSSC), is considering a share sale in Hong Kong. The companies refused to comment.

Meanwhile, five privately owned shipbuilders - Jiangsu Rongsheng Heavy Industries, Sinopacific, Mingde Nantong, Yantai Raffles Shipbuilding and JES International - are also looking to sell equity in order to fund their expansion, according to people familiar with the situation. Sinopacific and Mingde confirmed they have IPO plans but refused to give details.

Chinese shipbuilders want to raise capital at a time when shipping activity is close to an all-time high. The Baltic Dry Index, a key measure of commodity shipping costs, has more than doubled in the past year. Gilbert Feng, assistant director of the Hong Kong Shipowners' Association, who visited China's two major state-owned shipbuilders, said: "New building orders are already full until 2010, so their executives certainly sound very confident."

JES will begin its roadshow next week and is set to float in Singapore as early as the end of November, trying to raise as much as Dollars 300m from a share sale managed by ABN Amro. Sinopacific is hoping to raise about Dollars 660m next year in an IPO managed by Citic. Meanwhile, Chen Qiang, president of Rongsheng, said in April his company was planning to sell as much as 25 per cent of its equity in an IPO. However, Rongsheng is now in talks with private investors about selling a stake ahead of a IPO. Finally, Mingde has selected Deutsche Bank and Morgan Stanley to manage a listing in either Singapore or Hong Kong. The banks involved in the plans would not comment.

China recently overtook Korea, the world's leading shipbuilding nation, for the first time in terms of one specific measure - first-half ship orders in terms of deadweight tonnage. CSSC's goal is to double its shipbuilding output over the five years to 2010.
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Old November 13th, 2007, 04:27 PM   #138
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Thick silt holds up south China shipping routes

BEIJING, Nov 13 (Reuters) - More than 300 cargo ships have been held up on a stretch of river in southern China because of thick silt and low water levels, Xinhua news agency reported on Tuesday, citing local navigation authorities.

The ships, carrying coal, carbon, cement and grains, have been held up since early November in the Xijiang River, a tributary of the Pearl River, en route to the southern province of Guangdong, the report said.

"Thick sediment has made the river route shallow and delayed many large ships," the report said.

Heavy industrialisation and the impact of damming has caused increased sediment in many Chinese rivers, impacting their ecosystems and shipping navigation.

The water level in the Xijiang River had dropped to 1.8 metres (5 ft 11 in) in the dry season, below the usual range of 2.2 to 2.8 metres, the report said.

Because of the low levels, only 100 to 200 ships could pass through the Chuangzhou ship lock and into Guangdong a day, compared to the usual daily capacity of 300 ships a day.

Workers were trying to dredge the channel, but the process could take as long as 10 days, the report said.

Researchers say that China's Three Gorges Dam, the world's largest hydropower project, is also retaining huge amounts of sediment, causing significant erosion in the Yangtze River and damaging the river's ecosystem.
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Old January 14th, 2008, 04:57 AM   #139
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China Shipping says 2007 earnings up over 65 pct

http://www.reuters.com/article/rbssI...23644520080106

Quote:
SHANGHAI, Jan 7 (Reuters) - China Shipping Development Co Ltd (600026.SS: Quote, Profile, Research) on Monday reported a 65.45 percent jump in 2007 earnings, profiting from robust global demand for coal.

The oil and coal carrier booked a 4.65 billion yuan ($639.4 million) net profit in 2007 based on Chinese accounting standards, it said in a preliminary earnings statement.

Sales rose almost 35 percent to 12.54 billion yuan.

Shares in China Shipping more than tripled in 2007, compared to a 97 percent rise in the benchmark Shanghai Composite Index .SSEC. ($1=7.272 Yuan) (Reporting by Sophie Taylor; Editing by Tomasz Janowski)
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Old January 14th, 2008, 04:58 AM   #140
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High Growth Forecasted for the China Shipbuilding & Repairing Industry Report, 2007-2008

http://www.reuters.com/article/press...008+BW20080107

Quote:
China's shipbuilding industry kept a fast growth in the first
three quarters of 2007, and a variety of indicators refreshed the
record. The accomplished output of shipbuilding industry amounted to
12.03 million DWT, a rise of 44 percent over the same period last
year. Of all, the exported shipping hit 9.77 million DWT, taking 81
percent of accomplished shipbuilding output. In addition, new
shipbuilding orders reached 64.34 million DWT, up 120 percent from a
year earlier. Of all, the exported shipping arrived at 57.22 DWT, a
share of 89 percent in the new shipbuilding orders. The handheld
shipbuilding orders were up to 129.35 million DWT, up by 111 percent
year-on-year. Of all, the exported shipping got to 113.07 million DWT,
accounting for 87 percent of handheld shipbuilding orders.

The accomplished shipbuilding output, new shipbuilding orders and
handheld shipbuilding orders of China takes a global market share of
20.1 percent, 38.7 percent and 29.5 percent respectively. Since the
cost-efficient labor force in China's shipbuilding industry and a 17
percent of tax rebates on exports, the shipbuilding in China is quite
competitive in the international market. In recent years, China-made
shipping has a price cut of five percent to eight percent compared to
the shipping built in South Korea. According to the forecast, the
shipbuilding accomplished in China in the year of 2007 will be above
16 million DWT.

The exported value of China-made shipping reached USD 8.76 billion
in the first three quarters of 2007, up 61.9 percent from a year
earlier and exceeding the total exported value in 2006. The shipping
products have been exported to 142 countries and regions, particularly
to Singapore, Germany and Hong Kong (China). The shipping import
reaches RMB 940 million, up 125.8 year-on-year, 63.9 percentage points
higher than the shipping export.

The marine market becomes increasingly prosperous. To modify the
ships is the fastest way for marine transport companies to expand the
carrying capacity. Since 2007, the ship repairing enterprises
continued to receive orders of ships modification business. The
repairing work of ocean lines expands rapidly and the efficient of
backbone enterprises to repair ships is significantly improved, which
conduces to the dramatically growing production capacity of the
shipping repairing industry. In Jan.-Aug. 2007, the output value of
ship repairing reached RMB 30.3 billion, up 62 percent year-on-year.
Moreover, the industrial added value was up to RMB 10 billion, up by
71 percent from a year earlier. The profit of the ship repairing
industry hit RMB 3.9 billion, with a rise of 81 percent and a
contribution ratio of 35.4 percent to total profits of the whole
industry.

As is shown from the current market situation of global
shipbuilding industry, the shipbuilding market will be more prosperous
since the global economic trade keeps a rapid growth and the marine
transport market grows fast. Driven by the strong demand of iron ore
and coal, the global bulk cargo marine transport market advances
triumphantly and the Baltic Dry Index (BDI) continuously refreshes the
record. As the oil tanker market declines, the bulk cargo carrier
market is greatly incentive to the further prosperity of the world's
shipbuilding market. In addition, there is a rising prosper in the
market of container transportation, the cargo volume in each marine
line remains stable, and the period leasing level keeps rising
steadily. The rising trend of market demand will greatly promote the
steady growth of China's shipbuilding and repairing industry in the
future.
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