China Shipping invests in new Lianyungang container terminal
China Shipping Group, the parent company of China Shipping Container Lines, said it has signed a RMB3.5 billion ($423 million) investment cooperation agreement for the development of Lian Yungang Miaoling container dock at the Chinese port of Lianyungang.
The agreement concerning the little-known port of Lianyungang, located in northeast China, was with joint investment partner Lianyungang Seaport Corp.
The two companies’ project envisions completing a container terminal at the port that would start to operate in 2009. The “third stage” project of Lianyungang Miaoling will allow a 2,000-TEU containership, two 6,000-TEU vessels and two 10,000-TEU ships to load and unload at the same time. The terminal will have a capacity of 2 million containers and the estimated investment of five container berths with related warehouses and other facilities is about RMB3.5 billion.
“The establishment of Miaoling container dock will not only lay solid foundation for the fast development of Lianyungang container transportation, but also is important for Lianyungang to become a 100-million-ton seaport and an important international container transportation center,” China Shipping said.
Meanwhile, China Shipping Container Line said it has added calls at Lianyungang to its Asia/Europe line two service.