China Shipping starts container storage joint venture for Yangshan
China Shipping Container Lines last week established a joint venture container storage company to operate in the Yangshan Island port near Shanghai.
YS International will have a total investment of RMB180 million ($22.85 million) with the ocean carrier controlling 50 percent and two other China Shipping Group subsidiaries, CS Logistics and Hong Kong-based CS Overseas Logistics, having 25 percent each.
As well as container storage, YS International will also provide other related services such as transshipment and distribution; container assembly and disassembly; cargo handling; third-party logistics services; processing, packing, freight and miscellaneous fee collection; cargo warehousing; and general warehouse management.
The first phase of the Yangshan was opened December last year providing about 3 million TEUs in annual capacity. The second phase of the development is scheduled to be complete in the coming months with four 1,400-meter (4,593 feet) berths and a land area of 640,000 square meters. The island terminal will be served by a 32-kilometer, six-lane bridge, connecting it to the mainland city of Shanghai. The entire project is anticipated to add as much as 25 million TEUs in annual capacity by 2020.
“Yangshan port is expected to become a preferred port of call for the group’s large-scale container vessels with its advanced terminal facilities and excellent handling capacity. YS International is expected to provide the group with more container yards for cargo warehousing, which can decrease deployment costs,” China Shipping said in a statement.
