CHINA SHIPPING TO EXPAND PORT ACTIVITIES
China Shipping Group, the Shanghai-based parent company of China Shipping Container Lines, said that it plans to expand its container terminal activities worldwide.
A spokesman reported Li Kelin, chairman of the group, as saying that China Shipping will develop actively its container terminal businesses in North America, the Mediterranean, Europe, Southeast Asia by various ways, “such as shareholding, share cooperation, long term lease”
In April, the China Shipping Group founded in Shanghai a new port subsidiary called China Shipping Terminal Development Co., Ltd.
The subsidiary “is an important step for China Shipping to implement the 10th five-year development strategy, to build it into a world first class shipping company, to diversify its businesses,” a spokesman said.
In the last four years, China Shipping Group has entered and expanded in the deepsea container trades at breakneck speed, establishing itself as one of the 20 largest container shipping lines.
China Shipping has already set up joint venture container terminal companies in the Chinese ports of Dalian, Lianyungang, Shanghai and Zhanjiang. In March, China Shipping signed a 25-year lease agreement with the port of Los Angeles for its first exclusive container terminal in the port.
China Shipping expects its terminal business to handle 2.65 million TEUs by the end of its five-year plan.