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Ningbo container throughput up 3.7pc to 6.1 million TEU in first five months
PostTime:2011-07-05 08:22:33 View:586
PORT of Ningbo recorded a container throughput of 6.11 million TEU and handled 155 million tonnes if cargo overall during the first five months of this year, Xinhua reports. In May, the port\'s box throughput increased 3.7 per cent year on year to a historical high of 1.28 million TEU. Its cargo tonnage also broke record by reaching 27.55 million tonnes, up 9.5 per cent. In this month, there were seven new lines adding the port to their rotation. Ningbo is now operating a total of 246 lines, offering 1,260 sailings per months and more than 40 daily.
Ningbo's Meishan terminal buys gantry cranes to cope with cargo surge
PostTime:2011-06-20 08:14:41 View:632
PORT of Ningbo is experiencing a sharp increase in its throughput. The port's Meishan port area had to place an urgent order of 12 gantry cranes for its terminal to deal with the surge. The 12 gantry cranes have been delivered to the terminal and put into service, according to Xinhua's report. They are electric-powered and are in line with port of Ningbo's green terminal aim. Meishan Island Container Terminal started operation in August 2010. In the first five months since it started operation, its throughput reached 100,000 TEU. The growth even went faster in the first five months of this year with its throughput surpassing 200,000 TEU by the end of May. This has brought heavy pressure on the terminal. In the first four months of this year, port of Ningbo handled 4.58 million TEU of containers, up 20.2 per cent year on year, 6.9 per cent faster than the average growth of China's sea ports.
Ningbo aims for marine economy
PostTime:2011-06-10 09:56:07 View:830
MORE than 1,000 projects worth US$88.2 billion opened for bidding in Ningbo yesterday as the city in east China's Zhejiang Province seeks to build a marine-based economy. The port city wants to develop its marine industry, such as shipment facilities, as well as clean energy production, machinery making and financial services. A total of 1,076 projects were up for bidding during the 13th Zhejiang Investment and Trade Symposium, which opened in Ningbo yesterday, organizers said. Representative from 136 overseas business groups were invited to meet with local manufacturers and companies, the organizers said. Ningbo has established 10 industrial and trading zones to provide marine services along its coast. The building of a marine-based economy is part of the city's Five-Year Plan, starting this year, which aims to upgrade local industries and further open the market, according to government officials.
Ningbo Port plans Hong Kong listing
PostTime:2011-03-10 07:45:07 View:763
BEIJING - Ningbo Port Co, the operator of the country's second-biggest port by throughput, still intends to go public in Hong Kong - after its debut in Shanghai in September - to raise capital for the tens of billions it plans for future investment, a top port official said on Sunday. "We have plans to list in Hong Kong, but so far there's no timetable for the listing," Li Linghong, president of the listed firm's parent Ningbo Port Group, told China Daily. Li, also a deputy of the National People's Congress, said that the company plans to invest 40 billion yuan ($6.1 billion) in port terminals, equipment, logistics, and inventory systems during the 12th Five-Year Plan (2011-2015) period. The port's container throughput this year will undoubtedly outpace last year's volume and will see "double-digit" growth, Li said. Ningbo Port, adjacent to Shanghai in eastern China's city of Ningbo, Zhejiang province, raised 7.4 billion yuan in its initial public offering (IPO) in Shanghai in September, but dropped below its IPO price on its debut. The proceeds from the capital market have not been used up, Li said, but for the port to reach its goals in the coming years, more cash is needed. The local government-backed port operator said in June in a statement that it also plans to sell up to 2.35 billion shares in Hong Kong, without giving a timetable. By the end of January, there were 229 shipping lines for container transport and 123 international sea routes, while its monthly container liners hit 1,338. Ningbo Port reached 36.6 million tons of cargo throughput in January, up 12 percent from a year earlier; its container throughput grew by 30.6 percent to reach 1.26 million twenty-feet equivalent units (TEU). China's ports have benefited from the country's increasing trade and have reported stunning performances, after the financial crisis almost froze the country's foreign trade. Shanghai International Port (Group) Co (SIPG), the operator of the world's busiest port, reached 2.71 million TEU container throughput in January, a record monthly high with 21 percent growth from a year earlier. SIPG reported 29.07 million TEUs in container throughput last year, surpassing Singapore as the world's biggest port. Citic Securities said in a research note that the port industry is expected to reap "unexpectedly high" profits from the country's transition to a consumption-driven economy and the recovering container business.
Ningbo-Zhoushan Port 2010 throughput up 25.2%
PostTime:2011-01-11 07:33:48 View:1073
The Ningbo-Zhoushan Port in southeastern China recorded a throughput of more than 13.14 million TEUs in 2010, rising by 25.2 percent over the previous year, reported SinoCast,The throughput achieved in Ningbo port was over 13 million TEUs, gaining by 24.7 percent over the prior year.Ningbo-Zhoushan Port jumped to third place in terms of the throughput in China. It took the first spot of 30 major ports by growth worldwide and is expected to be one of the top six ports across the globe.
Ningbo splashes out $400m to buy ships
PostTime:2010-12-01 08:06:48 View:554
International ocean shipping market experienced shuffling during financial crisis but it also brought opportunities to development further. Ningbo, located in Zhejiang Province of China, has entered the world's top10 ports. Different from other large ports in the world, no reputable ports came out from Ningbo so far. Seven more private shipping companies entered ocean shipping market from the second half of 2009. As is introduced, there were 132 shipping lines in Ningbo totally, 120 of them were private ones. Few private companies took part in ocean going routes due to fund shortage. However, the financial crisis provided opportunities for them. In addition, Chinese government encouraged private capitals to enter shipping market. That enhanced the confidence of local private shipping companies. A lot of local private shipping companies rose. According to official statistics, the shipping companies in Ningbo spent over $400m to buy ships in oversea market such as Singapore and Hong Kong this year.
Ningbo to beef up logistics sector
PostTime:2010-08-10 13:15:29 View:506
Mainland's second-largest port city of Ningbo plans to increase the competitiveness of its logistics industry by making it a more information-based port. Ningbo plans to build an information platform linking 5,000 logistic companies in the city in the next three years. "It's like an Alibaba platform which connects all of the logistic companies in Ningbo and enables them to release information and trade on it," said Li Bao, deputy director of Ningbo Hi-Tech Industrial Development Zone. Ningbo development zone on Monday signed a memorandum of understanding with IBM's China unit, which is going to set up a development lab in Ningbo, the fourth after ones in Beijing, Shanghai, and Xi'an. "Only 5 percent of Ningbo's logistics companies have their own information systems while the rest are running their businesses very inefficiently," said Wang Jinghang, president of Ningbo Logistics Association. According to industry figures, logistics costs account for 30 percent of the total costs of goods made in China, while internationally that figure is about 10 percent. Lowering the cost of logistics and making better use of resources is "extremely important" for Ningbo, said Matt Wang, the director of IBM China Development Laboratories. He added that the lab would focus on software development, testing, consulting and training to provide services for the city's logistics enterprises. Overall throughput in Ningbo port reached 384 million tons last year, with a year-on-year increase of 6 percent, ranking it second among coastal ports in China. The city's plan for the logistic industry is part of its plan to build a "smarter city" including manufacturing, financial services, the leisure industry, and logistics. Many cities in China have been working to upgrade information processing and this has provided international IT companies with more opportunities for expansion in the country. US-based IBM, for example, has established cooperation with various cities including Guangzhou, Kunshan and Shenyang over the past two years.
PostTime:2010-07-28 09:58:53 View:629
East China's Ningbo port registered a 27.7 per cent increase in throughput to 159 million tonnes and a 38.6 per cent growth in container volume to 6.38 million TEU, hitting a record high and ranking the first nationwide, reports Xinhua. The outstanding growth is attributed to the recovery of global economy, foreign trade's rebound and China's domestic economic boom, says a statement from the port authority. The port has newly opened and resumed 19 services in the first half years, adding its total number of liner service to 225. The port's average liner voyage has been over 1,100 trips since the second quarter, especially the record high of 1,292 trips in May. Its vessel voyage numbers grew 23.3 per cent to 6,505 trips in the first half years.
Ningbo volume up 38.6pc to 6.38 million TEU in first half
PostTime:2010-07-27 08:44:15 View:519
EAST China's Ningbo port registered a 27.7 per cent increase in throughput to 159 million tonnes and a 38.6 per cent growth in container volume to 6.38 million TEU, hitting a record high and ranking the first nationwide, reports Xinhua.The outstanding growth is attributed to the recovery of global economy, foreign trade's rebound and China's domestic economic boom, says a statement from the port authority. The port has newly opened and resumed 19 services in the first half years, adding its total number of liner service to 225.The port's average liner voyage has been over 1,100 trips since the second quarter, especially the record high of 1,292 trips in May. Its vessel voyage numbers grew 23.3 per cent to 6,505 trips in the first half years.
PostTime:2010-06-03 15:56:50 View:768
Shanghai-listed bulk carrier operator Ningbo Marine has ordered three 47,500-dwt handymax vessels from China Shipping Industry (Jiangsu), a shipbuilding offshoot of China Shipping Group, for Yuan548m ($80.5m). The first two bulk carriers are scheduled for delivery between November and December 2011. The delivery date of the third ship will be confirmed by March 2012, according to a statement filed to the Shanghai Stock Exchange. Ningbo Marine said the new vessels would be deployed for cabotage coal shipment between China's eastern Zhejiang province and electricity plants in southern China. Ningbo Marine said it would finance the acquisition via bond issues, bank loans and internal resources.
PostTime:2010-06-03 08:38:01 View:539
NINGBO Port Co reportedly hopes to raise up to 13.3Bn yuan ($1.9Bn) in an IPO to build new container and coal berths. The government-controlled company told the China Securities Regulatory Commission that it plans to sell up to 2.5Bn shares, a 19% stake, Bloomberg reported today. The company might also sell up to 2.35Bn shares in Hong Kong, said the report, which added that the port operator plans to spend 84% of the proceeds on building and revamping berths, with the rest used to acquire equipment and fund operations. No date was given for the sale, but China's regulatory commission said yesterday it plans to review the Shanghai listing plan on 4 June.
Ningbo Port float to set sail after approval from regulator
PostTime:2010-06-03 08:25:01 View:527
Sector outlook still promising given growing cargo demand SHANGHAI - The China Securities Regulatory Commission (CSRC) will review the application for an initial share sale by Ningbo Port Co on Friday. Analysts said the company's plan to go public during a bearish market period will lead to a low valuation price. Ningbo Port Co plans to raise up to 13.3 billion yuan ($1.95 billion) in its initial public offering (IPO) in Shanghai, according to a statement posted on the CSRC website. The company is scheduled to sell 2.5 billion shares in its Shanghai IPO, and to further sell up to 2.35 billion shares in Hong Kong, said the statement. As a leading port in China, Ningbo Port has all the makings of a listed company, and the final approval from the regulator is just a matter of time, said Zhang Hongbo, an industrial analyst with Citic China Securities. According to Zhang, Ningbo Port started preparatory work on the IPO several years back. During the sidelines of the annual National People's Congress in March, Li Linghong, board chairman of the company, told China Daily that Ningbo Port will look to list its shares by the end of the second quarter at the latest. The recent slide in the capital market dealt a blow to most of the listed ports. Shanghai International Port (Group) Co Ltd (SIPG), the nation's largest port operator, tumbled 20.1 percent since April 16, even as the Shanghai Composite Index shed 17.95 percent. Shenzhen Yantian Port Holdings Co Ltd also dropped 21.1 percent since the middle of April. From January to April, major domestic ports' cargo throughput totaled 2.48 billion tons, up 20.2 percent year-on-year, while the container throughput reached 43.68 million twenty-foot equivalent units (TEU), up 22.4 percent over the same period of 2009. "The shipping industry walked out of the recession shadow in 2009, and has since then been showing a steady growth," said Yu Jianjun, an analyst with Huatai Securities. Like its major competitors in the Yangtze River Delta, Ningbo Port also experienced a bumpy road in business performance, but the outlook is still promising given China's burgeoning shipping demand. Ningbo Port's business mainly comes from companies based in Zhejiang, Jiangxi, and south of Anhui province. While SIPG's shipping customers are from Shanghai, Jiangsu, Anhui and along the Yangtze River. "Though there is client overlap in regions like north of Jiangxi province, south of Jiangsu province and north of Zhejiang province, the two ports would prefer to avoid a direct rivalry and rather forge some kind of cooperation," he said. The two ports also differ in their respective positioning. Ningbo Port aims to be an important regional shipping center, while SIPG plans to be a global shipping hub. For the moment, both the two ports are strictly following their plans by charting IPOs and venturing overseas. Last Friday, SIPG inked its first overseas deal by buying a 25 percent stake purchase in the Zeebrugge container terminal in Belgium for 27.16 million euros ($32.96 million).