COSCO Shipping Ports will acquire a 16.82 percent stake in Qingdao Port International (QPI), operator of China’s sixth-busiest port, the company said on Sunday [22 January 2017], expanding COSCO’s port network. Under the agreement, Shanghai China Shipping Terminal Development, a subsidiary of COSCO Shipping Ports, will pay 5.8 billion yuan ($844 million) for the shares in QPI…Full Article: The Global Times Jan 2017
- As a result of the deal, COSCO Shipping Ports stake in in Qingdao Port International (QPI) increased from 1.59% to 18.41%. Both companies also agreed to invest in the Khalifa Port Container Terminal II project in Abu Dhabi.
- In May 2016, COSCO Pacific, a subsidiary of China COSCO Shipping Corp, signed an agreement to purchase 35% of the terminal from ECT Participations BV, a subsidiary of CK Hutchison Holdings. Euromax Terminal Rotterdam is an automatic container terminal that has an annual capacity of 3.2 million twenty-foot equivalent units (TEUS). In 2015, the terminal processed 2.28 million TEUs.
- In April 2016, China’s COSCO sold a livestock shipping vessel to a Singaporean company.
- In October 2015, China Shipping (Shanghai) began a grain shipping service with China’s COFCO Group. China Shipping Group and COFCO would reportedly import 3.5 million MTs of grain per year.
- In August 2015, China was considering merging China Ocean Shipping Group (COSCO) with China Shipping Group (Shanghai). COSCO is China’s largest shipping company by fleet size.
- In June 2014, Qingdao Port International (QPI) (HKG:6198) was listed on the Hong Kong Stock Exchange.
- In 2014, the top Chinese ports in terms of container traffic of Twenty-foot Equivalent Units (TEUs) are Shanghai, Shenzhen, Hong Kong, Ningbo-Zhoushan, Qingdao, Guangzhou, Tianjin, Dalian, Xiamen, Lianyungang and Yingkou. In 2014, Shanghai was the world’s busiest container port with 35.2 million TEU transported through the port. In 2013, Shenzhen surpassed Hong Kong as China’s second busiest container port.
- In 2013, COSCO built its first livestock shipping vessel for a Dutch company. The COSCO livestock shipping vessel contains water piping, a forage feeding systems, and other livestock transport equipment.
- Founded in 1961 and headquartered in Beijing, China Ocean Shipping (COSCO) is one of China’s top shipping companies. As of 2015, COSCO had 175 container ships.
- In 1892, the Port of Qingdao began operating.
Hong Kong Trends
Similar Posts by ChinaAg
- Hong Kong Conglomerate to Sell 35% Share in Dutch Port Terminal to Beijing Shipping Company
- Hutchison Port Holdings Trust, the Company at the Heart of the 2013 Hong Kong Dock Strike, Sold 60% of One of Its Hong Kong Terminals
- China’s Qingdao Port and Africa’s Port of Djibouti Sign Partnership Agreement