Xiangyu Ltd lands Tianjin Port dredging contract

PostTime:2011-07-05 08:17:09 View:580

Xiangyu Dredging Holdings Limited, the largest privately owned dredging company in China in terms of dredging volume in 2010, announced that on 29 June 2011, a wholly-owned subsidiary of the Company entered into a dredging contract with a port construction engineering company in the PRC to provide dredging services in Tianjin Port in the PRC for an aggregate revenue expected to be approximately RMB169.8 million (equivalent to about HK$198.7 million). From November 2010, Xiangyu Dredging has commenced its capital and reclamation dredging services for the port expansion project in Tianjin Port, the PRC, and this contract represents an addition to the services currently provided by the Group. The contract is expected to commence from August 2011 and to be completed in May 2012. Mr. Liu Kaijin, Executive Director and Chief Executive Officer of Xiangyu Dredging, commented, “The dredging contract demonstrates the continuous growth potential of our business, and enables us to increase market share, competitiveness and reputation in dredging market of the PRC. As the largest private dredging company in China, Xiangyu Dredging will ride on strong client relationship and project pipeline to secure more contracts to capture the growth in the dredging industry.” About Tianjin Port Project In November 2010, Xiangyu Dredging were engaged to provide capital and reclamation dredging services for the port expansion project in Tianjin Port. The amount of sediment to be excavated under this contract is approximately 10 million cubic meters. In April 2011, Xiangyu Dredging entered into an additional contract to provide capital and reclamation dredging services in another area of Tianjin Port for the same port expansion project. The amount of sediment to be excavated under this second contract is approximately 20 million cubic meters. Xiangyu Dredging has been listed on the Stock Exchange of Hong Kong on 20 June 2011. The Group is engaged in providing capital and reclamation dredging and also attaches great importance to environmental protection dredging services. Xiangyu Dredging is the largest privately owned dredging company in China in terms of dredging volume in 2010, according to the Frost & Sullivan Report.

Tianjin port to increase throughput

PostTime:2011-06-20 08:25:24 View:479

Tianjin port plans to build 300,000-tonne shipping lanes to increase throughput to 560 million tonnes and 1.8 million TEU by 2015, says Tianjin executive vice Mayor Yang Dongliang. Xinhua also reported that the port moved 411 million tonnes of cargo overall and 10 million TEU in 2010. Tianjin will further enlarge the scale of port handling logistics and comprehensive service functions in the next five years, and will initially construct a logistics network covering all hinterlands by aiming at building itself as North China Shipping Centre, Mr Yang added.

Tianjin port's throughput to hit 560 million tonnes by 2015

PostTime:2011-06-17 08:28:13 View:814

TIANJIN port plans to build 300,000-tonne shipping lanes to increase throughput to 560 million tonnes and 1.8 million TEU by 2015, says Tianjin executive vice Mayor Yang Dongliang. Xinhua also reported that the port moved 411 million tonnes of cargo overall and 10 million TEU in 2010. Tianjin will further enlarge the scale of port handling logistics and comprehensive service functions in the next five years, and will initially construct a logistics network covering all hinterlands by aiming at building itself as North China Shipping Centre, Mr Yang added.

Tax-free Tianjin zone touted

PostTime:2011-06-10 10:02:47 View:1019

Municipality aims to stimulate local economy through rebates BEIJING - Tianjin is joining a number of coastal cities, including Shanghai and Shenzhen, that have announced their plans to set up the country's next tax-rebate zone. That's after the tropical Hainan Island was given the green light to provide tax-refunds on products in April. In the city's three-year plan, the Dongjiang Free Trade Port Zone of Tianjin will be transformed into a tax-free island offering tax refunds to tourists, once its application has been approved, according to Huang Xingguo, mayor of Tianjin, who was quoted in the Securities Daily on Saturday. The zone, located at Binhai New Area, a government-designated economic zone 45 minutes' drive from downtown Tianjin, is the country's largest bonded port by size. Situated adjacent to Beijing and Tianjin, where consumption is robust, the proposed tax-free zone would be easily distinguishable from non-tax-free areas. It also has existing advantages in logistics and other facilities, Yu Rumin, chairman of the board of Tianjin Port (Group) Co Ltd, told the newspaper. Tax-free luxury goods available to increasingly affluent Chinese within the country have created many opportunities for tourism and retail services. China is poised to become the world's largest market for luxury goods by 2020, according to a report from the brokerage and investment group CLSA Asia-Pacific Markets in February. The country will account for 44 percent of global sales over the next decade, up from 15 percent at present, the report said. Experts believe that tax rebate policies in more designated sites will stimulate domestic demand. Eyeing the profits from tax-free retail businesses, the country's financial hub Shanghai was reported in May to be working on plans to make its Pudong New Area District a tax-free zone. Coastal port cities such as Zhoushan in Zhejiang province in the east of the country, and Zhuhai and Shenzhen in Guangdong province in the south, have also prioritized a tax-rebate plan to fuel tourism and their local economies. Hainan Island, the first province to implement a program of tax rebates, had seen about 40,000 tourists granted rebates on around 150,000 products by May 20. The island has set a rebate cap on goods priced at no more than 5,000 yuan ($772) for each person for each visit from designated shops. The policies apply to tourists from both home and abroad who fly on to other destinations in China from the island. Each traveler can claim a rebate twice a year, while residents of the island can claim once a year. The program, based on similar programs at Jeju Island in South Korea, and Okinawa, Japan, echoed the State Council's goal to build Hainan into a top international tourism destination by 2020.

Tianjin aims to double container throughput by 2015

PostTime:2011-01-21 08:21:44 View:581

TIANJIN - Tianjin Port in North China aims to double its handling of containers by 2015 to become one of the world's top five container ports, the port's chairman said Thursday."The plan is to increase the port's annual container throughput to 20 million TEU by 2015," said Yu Rumin, chairman and senior engineer of Tianjin Port (Group) Co, Ltd, at the annual session of the Tianjin Municipal People's Congress.Yu said the central government's 2010 policies to develop Tianjin's port area will help. The policies outline tax reductions for ocean-going ships that use Tianjin Port and the creation of a free-trade zone in Binhai New District, the port area.Tianjin Port handled 10.7 million TEU standard containers in 2010, ranking 11th in the world.

Tianjin to become international shipping center

PostTime:2011-01-17 07:54:55 View:842

TIANJIN - North China's Tianjin Municipality will evolve into an international shipping center by 2015, as part of the city's plans for faster economic development, Mayor Huang Xingguo said Sunday at the local parliamentary session."In the coming five years, Tianjin will fully exploit its advantages to become a leading international shipping and logistic center in north China," Huang said in his government work report to the annual session of the Tianjin Municipal People's Congress.The central government, in its plan released in April 2010, has decided to turn Tianjin's Binhai New District into a pivotal harbor linking China with Northeast Asia as well as Central and Western Asia.Tianjin Port, with a 19.5-meter deep harbor that allows ships up to 300,000 tonnes to anchor, is one of the world's highest class man-made deep-water ports.The city government plans to optimize its port layout in the coming five years to improve efficiency.By 2015, the port's annual throughput will hit 560 million tonnes and 18 million standard containers.Tianjin Port, with 115 container ship routes, is linked with more than 500 ports in 180 countries and regions. At the end of last year, its annual throughput hit 400 million tonnes.

Tianjin container terminal celebrates

PostTime:2010-12-30 07:54:57 View:692

A ceremony takes place yesterday at a container terminal in Tianjin to celebrate the municipality's container throughput topping 10 million TEUs (20-foot equivalent units). The city's ports have a combined capacity of 10.75 million TEUs a year. The biggest port in northern China handled 8.7 million TEUs last year.

Tianjin port is north star for cargo

PostTime:2010-12-23 07:58:47 View:647

A vessel berths at an ore terminal in Tianjin City yesterday. The municipality's ports have handled more than 400 million tons of cargo this year, becoming the first in north China to top the 400-million-ton mark. Cargo throughput of the city's ports totaled 380 million tons last year, the world's fifth-largest and China's third-biggest.

Tianjin Xingang inks five 57K BCs

PostTime:2010-11-29 08:06:31 View:758

Singapore's Pacific Shipping Trust has ordered five 57,000-dwt bulkers in China in a deal worth $150m. The Supramax bulkers have been ordered on the back of long-term charters to South Korea's Glovis, part of the Hyundai Kia Automotive group. The ships have been fixed for between eight to ten years and are set to generate revenue of $250m for PST during the respective charter periods. PST has ordered the ships from Tianjin Xingang Shipbuilding Heavy Industry Co. Deliveries will take place between November 2012 and April 2013. The five Supramax bulkers will increase PST's current fleet from 16 to 21 vessels. It will also raise PST's total contracted charter revenue to about $800m. Pacific International Lines (PIL) has agreed to support the trust by providing pre-delivery financing for the latest acquisition. These latest orders take the Singapore-listed shipping trust's spending on newbuildings to $330m since July. Last month PST ordered two 24,000-dwt multi-purpose (MPP) newbuildings at Dalian Shipbuilding Industry in China for $60m. In July PST picked up two capesize newbuilding resales for $61.6m each from Japanese trading house Mitsubishi Corp.

Tianjin Binhai New Area, Dalian seek closer tie

PostTime:2010-11-23 08:01:37 View:757

A delegation led by Tianjin Binhai New Area leaders paid an official visit to Dalian last Friday, as the two are important cities in Bohai economic circle. The group met with Dalian government officials on Saturday, vowing to enhance their partnership in capital and talent flow, technology cooperation and resources sharing.Tianjin Deputy Party Secretary He Lifeng, who's also the commission secretary of Binhai New Area, came with the area Governor Zong Guoying and other commission leaders. Dalian Party Secretary Xia Deren and Mayor Li Wancai welcomed them.The two parties exchanged experiences and views on the coastal city's development and agreed to strengthen cooperation in logistics, modern service, port construction and urban planning. The two governments also promised to encourage their local enterprises to invest or extend business in the other city and provide efficient services to any guest companies.

Tianjin to become yachting and cruise liner hub

PostTime:2010-11-16 08:08:13 View:1119

BEIJING - As an appointed economic center for North China, Tianjin is gearing up efforts to develop its fledgling but promising cruise and yacht tourism industries, which some expect to become the biggest in Asia. As the largest home port in Asia for cruise liners following investment of 1.28 billion yuan, Tianjin International Cruise Home Port is expected to have hosted a total of 100 luxury cruise liners by 2015 with an estimated 250,000 to 300,000 passengers on board, Tianjin's tourism chief said. The Home Port has been on stream since June this year. "The cruise industry has become one of the robust growth engines of world tourism. As an international port city, an appointed economic center and tourist city for North China with 153 kilometers (km) of coastline, Tianjin has exceptional resources to develop the cruise tourism industry. Cruise tourism has gradually become a major feature and new growth engine of Tianjin tourism," said She Qingwen, head of Tianjin Tourism Bureau. Tianjin International Cruise Home Port lies at the south end of Dongjiang Bonded Port Area. The overall planning area is 120 square kilometers (sq m), with 1,600 meters of coastline and six multi-functional berths. It has the capacity to accommodate the largest luxury cruise liner in the world. Up to now, the Home Port has received 22 international luxury cruise liners, with 60,000 inbound and outbound passengers. In addition, Tianjin plans to invest 9 billion yuan to build the largest yacht port in the country with the eventual goal of building up the biggest yacht industry base in North China, said Zhang Aiguo, chairman of the Administrative Committee of Dongjiang Bonded Port Area. It will be created at Dongjiang Bonded Port Area in Tianjin Binhai New Area (TBNA) and will cover an area of 900,000 sq m holding 750 berths to accommodate luxury yachts about 90 meters in length. Local officials said the port would cost 9 billion yuan ($1.34 billion). So far, three yacht club projects have been developed in TBNA, costing a total of 10.5 billion yuan. Once completed, the yacht port hub within the Dongjiang Bonded Port Area will have the capacity to accommodate 700 yachts, said Yu Rumin, chairman of Tianjin Port (Group) Co Ltd. "In addition to efforts to further drive up our core marine transport business, we will step up efforts to build Tianjin Port into a booming cruise and yacht tourism hub," Yu said. Tianjin International Cruise Home Port will be able to host 500,000 people a year. This year it received 60,000 tourists. Apart from the construction of facilities, Tianjin Port is poised to make a breakthrough in broadening yacht tourism routes and introducing more cruise liner companies. "From the yacht ports in Hong Kong, visitors are able to sail to the Philippines and Malaysia. We hope the yacht ports in Tianjin could explore this hobby, developing convenient sailing routes between the Chinese mainland and neighboring countries such as the South Korea," Yu said. A slew of national policies have been newly issued to promote the development of the cruise tourism economy. Foreign cruise liners are allowed to affiliate with several companies and establish sole proprietorship operational agencies in China. Some foreign cruise liner companies have an urgent need to establish legal business entities in China, according to Song Dexing, the director of the Water Transport Authority of the Ministry of Transport. The cruise economy has been included in the 12th fiveyear plan of the TBNA. The TBNA government will establish corresponding preferential policies, such as establishing a cruise economic development special fund, creating a complete cruise service standard system, and regularly holding forums for the development of the international cruise industry. A yacht manufacturing base, a maintenance center, a trade center, yacht clubs, five-star hotels and top-class commercial facilities are under construction in the TBNA. Industry experts say that the cruise industry will facilitate a general upgrading of Tianjin's economy. China's yacht production capacity is now among the global top 10. "In terms of travel equipment manufacturing, Tianjin has great advantages. Thanks to the allocation of resources and distribution of productive forces, Tianjin plays an irreplaceable role in the Bohai Rim Economic Circle," said Wu Wenxue, vice-president of the China Tourism Association and director of the planning and finance department of the China National Tourism Administration.

Departure Gate

PostTime:2010-10-18 08:01:35 View:643

Your passport to the latest destinations and airline promotionsChina plans yacht port in TianjinChina plans to build a first-class yacht port in the northern city of Tianjin by the year's end, which will allow the country's super-rich to dock their luxury vessels near Beijing, local officials said on Wednesday.The port will cover an area of 900,000 square meters in Tianjin's booming Binhai district and will have 750 berths to accommodate luxury yachts about 90 meters (300 feet) long. Five-star hotels, commercial areas and yacht manufacturing and repair bases will also be set up in the port area.Most admired nations rankedThe latest annual list of the world's "most admired" countries was revealed Thursday. The US stayed on top, with Germany second, France third, the UK fourth and Japan fifth on the 50-nation list.The 2010 Anholt-GfK Roper Nation Brands Index was compiled from the views of about 20,000 adults from almost two dozen countries. It covers categories such as "rich in historic building and monuments", "natural beauty", "interesting and exciting place for contemporary culture such as music, films, art and literature" and "excelling at sports".SeaWorld to add two Florida venuesA new roller coaster and a tropical-fish grotto are coming to two Florida theme parks owned by SeaWorld Parks &Entertainment.Park officials announced Wednesday that the roller coaster Cheetah Hunt is coming to Bush Gardens Tampa, while Grand Reef will open at Discovery Cove in Orlando.The roller coaster will launch riders from zero to 60 miles per hour at the start of the 4,429-foot track and include a 130-foot drop. A new cheetah habitat will be built alongside the roller coaster.Grand Reef at Discovery Cove will have a white sand beach, underwater grottos filled with eels, reef sharks and other tropical fish. Visitors will be able to snorkel and go on an underwater walking tour.Charleston voted a top destinationCharleston is again listed as among the United States' top destinations by readers of Conde Nast Traveler magazine.The magazine announced that more than 26,000 readers had voted Charleston No 2, just behind San Francisco.It's the 18th straight year that Charleston has been voted as among the top 10 travel destinations by the magazine's readers. Nearby Kiawah Island was voted the top island resort in North America.The South Carolina coast is the heart of the $18 billion tourism industry of the state.Private spaceship makes solo flightVirgin Galactic's space tourism rocket Space Ship Two achieved its first solo glide flight on Sunday, marking another step in the company's plans to fly paying passengers.The rocket was carried aloft by its mothership to an altitude of 45,000 feet and released over the Mojave Desert. After the separation, Space Ship Two, manned by two pilots, flew freely for 11 minutes before landing at an airport runway, followed by the mothership.The entire test flight lasted about 25 minutes.The six-passenger rocket is undergoing rigorous testing before it can carry tourists to space. In the latest test, it did not fire its rocket engine to climb to space.Russian plan to attract touristsThe Russian government is planning to launch an ambitious program to make the country a tourist paradise by 2016 and thrust it into the ranks of major tourism destinations.The Russian government is considering a 352-billion-ruble ($11.7 billion) plan to improve infrastructure, trains and launch a major advertising campaign.If the plan is successful, up to 40 million foreign tourists could visit Russia every year, in five years.Airline news and dealsSingapore Airlines promotion:Singapore Airlines will equip its aircraft with a wide range of onboard communication features from as early as the first half of 2011, making it the first airline in Asia to enable customers to access Internet and phone services even at 35,000 feet.Charters from Guilin:The Liangjiang International Airport in Guilin will increase 11 charter flights from Oct 16 to the end of the year, which will bring thousands of Malaysian and Singaporean tourists into the international tourist resort.From January to September, more than 50,000 tourists travelled the Guilin-Kuala Lumpur route, a year-on-year increase of 7 percent.