Guangzhou Shipyard to raise $407m from new share offering

PostTime:2013-06-26 08:32:57 View:597

Guangzhou Shipyard International plans to sell new shares to its parents and other investors to raise as much as RMB2.5bn ($407m) partly to finance an acquisition. CSSC will buy at least RMB2bn worth of the new shares. The China State Shipbuilding Corp (CSSC) unit will use as much as RMB1bn from the share placement to buy CSSC Guangzhou Longxue Shipbuilding Co from its parent and other partners, according to a stock exchange announcement. The balance will be used for working capital. The company’s shares have been suspended since 13 May pending this announcement and returned to trading today. Guangzhou Longxue is the largest builder of modern large ore, bulk and oil vessels in southern China, with annual capacity of 3.5m dwt.

Guangzhou Railway Corporation to build 6 cargo centres with new reforms

PostTime:2013-06-20 08:35:17 View:740

GUANGZHOU Railway Corporation, the operator of railways from Guangdong, Hunan and Hainan province, has announced that it will start building six cargo facilities to enhance their service. This comes after the takeover by the China Railway Corporation of China's rail network after the Ministry of Railways was disbanded in a sweeping reform package that has transformed the industry, reports Xinhua. Cargo will be first sector to be reformed, said the report. Specific measures cover simplifying procedures, the process of transportation, freight rate standardisation with all-in prices and door-to-door service. To carry out the railway department's plan, Guangzhou Railway Corporation will integrate its business, personnel and assets and set up six freight centres at Guangzhou, Changsha, Huaihua, Foshan, Huizhou and Haikou.  The operator also promises to offer full-range and one-stop services with all-in prices. Meanwhile, it will simplify its administrative processes, integrating its management departments, control systems and accounts. An unspecified manager from the corporation said, the plan-based mode of railway operation is no longer catching up with the development of economy. The reform will have an enhancing effect on service quality and the formation of a seamless transport network covering road, railway, waterway and air.  

Guangzhou to build freight rail links to Nansha container terminal

PostTime:2013-06-03 08:23:41 View:742

BEING an important component of the west Pearl River Delta cargo network, the Guangzhou Nansha port railway project will soon start construction and has recently publicised its environmental report, Xinhua reports. Costing CNY11.56 billion (US$1.89 billion), the railway is 80 kilometres long. Construction is scheduled to take four years. The railway runs through four Guangdong cities of Guangzhou, Foshan, Zhongshan and Jiangmen. It will be connected to the Beijing-Guangzhou railway in the north, Nanning-Guangzhou and Liuzhou-Zhaoqing railway in the west, and Guangzhou-Shenzhen railway in the east, and become a convenient means for distribution of shipments via the port and products manufactured inside harbour front industrial parks. Manufacturing cities along the line like Zhongshan and Shunde will benefit from the railway.

Guangzhou to spend US$4.08 million on putting Nansha in world's top 12

PostTime:2013-05-29 08:01:21 View:684

 GUANGZHOU government has announced that the city will spend CNY25 million (US$4.08 million) on raising Guangzhou port's container throughput to 16 million TEU and 400 million tonnes of cargo overall to turn the port into one of the world's top 12 ports. Guangzhou also plans to launch 120 new container shipping services. Seventy of them will serve foreign trade lanes covering more than 450 ports in the world. On the other hand, the city will develop port- and shipping-related services to double the industry's added value in 2012 to CNY120 billion.  Meanwhile, Guangzhou Port Group will break into the top 200 players list of the domestic service industry with a total assets value of more than CNY35 billion. The government will also give support to Guangzhou Port Group in a bid to be listed, said Xinhua.

Nanning-Guangzhou Railway Guangxi section opens for traffic in 2013

PostTime:2013-05-23 08:45:02 View:531

NANNING-Guangzhou railway's Guangxi section has completed track laying and is expected to be open for traffic in November this year, Xinhua reports. The railway, capable of handling double stacked unit trains, is said to become the most convenient traffic means of connecting Guangxi and Guangdong. After completion, it will cut Nanning-Guangzhou transits from 11 to three hours. The line runs from Nanning through Guigang, Wuzhou, Yunfu, Zhaoqing, Foshan to Guangzhou Southern Railway Station, covering 577.1 kilometres with 349.8 kilometres running through Guangxi and 227.3 kilometres go through Guangdong. Design speed is 200 kilometres per hour and can be upgraded. The railway started construction in November 2008 and started track laying in May 2012.

Guangzhou Shipyard plans major restructuring

PostTime:2013-05-20 08:20:48 View:537

Guangzhou Shipyard International (GSI) is planning a restructuring of the major assets of the company, a move made amid the height of a global shipbuilding slump. The Chinese shipyard announced to the Hong Kong Stock Exchange that it has engaged “relevant professional parties to commence work” on the potential restructuring. The company, however, stopped short of revealing further details of the plan and the rationale behind it. "Once the preparatory work of the professional parties is completed, the company will convene a meeting of the board of directors to consider the notifiable transaction,” GSI said in a statement. GSI had hinted on a major upcoming deal on 13 May, but it also did not reveal details. The yard posted a net profit of RMB54.12m ($8.79m) in the three months ended 31 March 2013, lower compared to RMB79.4m in the same period of 2012.

Guangzhou Shipyard hit by falling prices, rising costs

PostTime:2013-03-28 08:22:28 View:504

Guangzhou: China State Shipbuilding Corp unit Guangzhou Shipyard International (GSI) saw 2012 net profit plunge 98% to RMB10.33m ($1.66m) from RMB518.33m previously as newbuilding prices fell and costs rose. Declining prices, appreciation of the Chinese currency against the US dollar and changes in the demand-supply relationship in the shipbuilding market led to costs exceeding revenue in the group's shipbuilding business and resulted in a loss of RMB415.34m for contracts in the current year, GSI said. Income from the key shipbuilding operations fell by more than a quarter to RMB5.27bn leading to an operating loss of RMB 241.87m. This was caused by lower prices, with shipbuilding output value falling 25.2% to RMB5.26bn. Inroads made in the non-ship business segment however, with output value from these businesses rising by more than half from the year before to RMB914m.

Guangzhou-Jiangmen rail routes on Shenzhen-Maoming Railway get nod

PostTime:2013-03-22 08:49:43 View:1178

THE 129.5-kilometre Jiangmen section of Shenzhen-Maoming Railway in western coastal regions of Guangdong through two districts and three cities including Jianghai, Xinhui, Taishan, Kaiping and Enping have won approval, according to an officer from Guangdong Jiangmen Development and Reform Bureau, reports Xinhua.  The approval also was given to a plan to set up five stations of southern Jiangmen, Shuangshui, Taishan, Kaiping and Enping, at a cost of CNY15.2 billion (US$2.45 billion), said the report.  The Shenzhen-Maoming Railway is expected to start construction at the end of the year with a full length of 387 kilometres and a collective investment of about CNY59.3 billion. According to the plan, its designed speed is 200 kilometres per hour and construction is to be completed by 2017.  The Shenzhen-Jiangmen section will be a passenger dedicated line while Jiangmen-Maoming section will focus on passenger transport along with fast freight and regular express trains.  The Shenzhen-Maoming Railway is an important part of the coastal railway of Shanghai, Hangzhou, Xiamen, Shenzhen, Maoming, Zhanjiang line and a main route linking Pearl River Delta and the western regions of Guangdong, Beibu Gulf area of Guangxi and Hainan province.  Once completed, the travel time from Jiangmen to Maoming will be reduced to two hours from four hours and only one hour from Jiangmen to Shenzhen. 

15,550-TEU Elly Maersk docks easily at Guangzhou's Nansha Terminal

PostTime:2013-03-15 10:40:25 View:1592

THE Port of Guangzhou's Nansha Terminal in Guangdong province has received one of the world largest containerships, the 15,550-TEU Elly Maersk for the first time. "The successful accommodation of Elly Maersk indicates that Nansha Terminal is capable for the world largest container vessels in both terminal facilities and approaching channel," of the docking of the 400-metre ship that draws 16 metres of water.  The giant of the seas is an environment-friendly PS container vessel that is capable of carrying on deck eight high-cube containers across 22 rows and under deck 10 such boxes.  Guangzhou Port Nansha Terminal has 10 deepwater berths with a channel depth of 17 metres. With a desirable geographical location and advanced terminal facilities, convenient distribution and high productivity, the container terminal has attracted the top 20 shipping lines.  Maersk added Nansha to its port network in 2011 to boost its south China services. Other shipping lines then followed suit. The Nansha Terminal is rated as one of the best international gateways serving south China and the Pan-Pearl River Delta.  Nansha Port is located on Longxue Island in Panyu Guangzhou on the west bank of the Pearl River. It is situated in the centre of the Pearl River Delta, with the South China Sea to the south, Shenzhen to the east, and connections to Nanhai, Panyu and Shunde in the west. It is the only gateway to the ocean for the Guangzhou-Foshan economic area.

West Pearl box shops get boost with new Guangzhou-Zhuhai railway

PostTime:2013-01-09 08:28:06 View:1072

A BIG boost has been given to the Western Pearl River Delta container terminals with the recent opening of a freight railway service from Guangzhou through Jiangmen and Foshan to Zhuhai, Xinhua reports. Five Western Pearl Delta container terminals at Yantian, Da Chan Bay, Nansha, Jiangmen and Zhuhai, stand to reap great benefits from the Guangzhou-Zhuhai Railway with first class electric rolling stock and add-on passenger capacity. The line is 189 kilometres long, designed for speeds of 120 kph and serve nine stations, Datian, Guanyao, Danzhao, Heshan, South Jiangmen, Gujing, Doumen, West Zhuhai and Gaolan Port. This is the first freight railway - with passenger capacity - on the western side of the Pearl, bringing intermodal service to the region and easing pressure of the westbound freight movement from Guangzhou. At present, the West Zhuhai Railway Station Logistics Centre and rail lines for cargo distribution at the Gaolan port are being built as auxiliary projects for the new railway. The CNY2.5 billion (US$401 million) West Zhuhai Railway Station Logistics Centre covers 206.67 hectares, which will be built on adjacent to the waterfront logistics facility offering multi-modal, warehousing, distribution, bonded logistics, inventory management and supply chain management.

Guangzhou's big plan: to become Asia's key shipping, air, logistics centre

PostTime:2012-12-28 08:37:55 View:547

GUANGZHOU is planning to develop itself into the shipping, air and logistics hub in Asia with international influence, said the city's vice mayor Zhang Ji. Mr Zhang made the statement on a recent logistics industry forum held by Guangzhou's Development and Reform Commission, Economy and Trade Commission and Transportation Commission. He also said that Guangzhou will cement its status in south China and expand its network to cover the Asia Pacific region while avoiding functional overlapping with Hong Kong and Macau. According to the city's development plan, by 2016, it will finish building six urban distribution centres to realise its aim of half-hour delivery to all parts in the urban area. Long term, Guangzhou plans to set up 12 such facilities in Yuangang, Xintang, Wenchong, Shuangsha, Jiangjunshan, Lifeng, Shuangxi, Longxi, Hualong, Shilou, Hexing and Xianjiang. It will also accelerate the planning for another eight logistics parks and eight specialised facilities, including the four international logistics parks at the airports at Huangpu and Nansha, as well as the four regional logistics parks at Baiyun, Zengcheng, Huadu and Conghua.

COSCO Shipping acquires Guangzhou Ocean Shipping

PostTime:2012-12-10 08:47:08 View:590

COSCO Shipping Company (COSCOL) has announced today it plans to acquire full equity of Guangzhou Ocean Shipping for RMB1.095bn from COSCO Group, SinoShipNews reports. Guangzhou Ocean Shipping mainly operates special vessels include lumber vessels, asphalt vessels, heavy lift vessels and car carriers. COSCOL said the acquisition will help the company expand its fleet and special cargo shipping business to be more competitive on the international shipping market and the company sees special cargo shipping as an important strategy for development.