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Shanghai and Ningbo ports can merge
PostTime:2009-03-26 07:52:55 View:630
Buried deep in article by the China Daily newspaper today on port consolidation along the China coast is the admission that two former port foes are talking to each other, with a possible view to merge."Major ports in the country are holding consolidation talks with regional rivals as resource duplication and stifling competition threaten to destroy profits at a time of dwindling business," China Daily reported, citing the recent merger of two competing port operators in Tianjin.Intriguingly the article continued: “In the Yangtze delta region, the competition between Shanghai's Yangshan deep-water port and neighboring Ningbo-Zhoushan port was widely perceived as healthy when exports from the region were growing at a breakneck pace… Now, the two rivals are reportedly talking to each other about a possible partnership, or even a merger."These two ports have sparred with each other for much of the past decade, especially since Shanghai's Yangshan development got underway. Yangshan, a pair of islands to the south east of Shanghai, technically falls in Zhejiang province, Ningbo's territory. Both ports grew incredibly fast this decade but are now suffering in the downturn.
Cargo throughput at Port of Shanghai ranks first in world for four consecutive years
PostTime:2009-03-11 07:57:25 View:606
According to statistics recently issued by the Shanghai Municipal Transport and Port Authority, the Port of Shanghai had a cargo throughput of 582 million tons in 2008, an increase of 3.6 percent year-on-year, maintaining its position as the port with the most cargo throughput in the world for the fourth consecutive year. Container throughput rose 7.1 percent year-on-year to 28.006 million TEUs (twenty-foot container equivalent units), still ranking second in the world.A total of 61,900 domestic and foreign ships were piloted through the Port of Shanghai during 2008, an increase of 2,100 ships year-on-year.
Shanghai's East China trade fair sees deals fall 39 percent
PostTime:2009-03-09 08:04:46 View:577
Despite hopes for economic recovery, China's exporters failed to get much encouragement this week from a major trade fair where deals fell nearly 40 percent from a year earlier, with bigger drops for some industries.The five-day East China Fair, which draws exporters from seven provinces and Shanghai, as well as some foreign companies ended Thursday with $2.24 billion in deals signed, down 39 percent from a year earlier, organizers said.Many of the staff in the hundreds of booths at Shanghai's exhibition hall this week were busier talking or playing games on their laptops and mobile phones than trying to sell their products, which included clothing, accessories, housewares, basketware — just about any type of handicraft or knick-knack.Kees Hol, a Dutch businessman working at a factory in East China, was playing foosball with one of his employees."It's not really a good fair. It seems really quiet," Hol said. "But we have to look enthusiastic. If we all look discouraged, our customers will be discouraged, too."While the drop in nationwide factory orders slowed in February, leading some economists to forecast that the slump may be bottoming out, exports have been declining at a faster rate. Exports fell nearly 18 percent in January, accelerating from a 2.8 percent drop in December.Apart from the 18,229 foreign visitors to the fair, down more than 5 percent from a year earlier, most attendees were Chinese looking for samples of products, exhibitors said.During the fair, orders to the U.S. fell nearly 47 percent to $310 million, while sales to Japan fell 27 percent to $656.9 million. Europe deals fell 40 percent to $524.4 million, the organizers said in a statement.A survey of more than 160 trading companies in the eastern city of Ningbo, south of Shanghai in Zhejiang province, found that nearly two-thirds believed a recovery would not come until late this year or beyong, the official Xinhua News Agency reported.
China Shipping setting up Shanghai finance subsidiary
PostTime:2009-02-18 08:01:06 View:572
China Shipping Container Lines Co, the nation's second-biggest box carrier, said it plans to set up a venture in Shanghai with its parent and three other group companies to provide financial services for their units.The company will provide 25 per cent of the venture's US$44 million registered capital, China Shipping said in a statement yesterday.The JV, namely CS Finance Co, is designed to provide financial services for their units. However, the plan is still subject to regulatory approval from the China Banking Regulatory Commission (CBRC).
PostTime:2009-02-18 08:00:42 View:574
Shanghai: Furthering its expansion plans China State Shipbuilding Corporation will issue RMB3bn ($439m) worth of five-year bonds tlater in February.The bonds, which will each be worth RMB100, will be sold on the interbank bond market from February 23. CSSC is the southern umbrella group of yards that are state-controlled.
Market rebounds as shipbuilders fair well
PostTime:2009-02-13 08:15:58 View:575
SHANGHAI'S key stock index reversed a drop in its morning session and closed slightly lower yesterday, led by a strong performance by shipbuilders.The Shanghai Composite Index dipped 0.56 percent, or 12.73 points, to close at 2,248.09 points. Turnover was 142.1 billion yuan (US$20.8 billion). Gainers outnumbered losers 517 to 344, and 47 remained unchanged.Shipbuilders were among those that rose as the State Council announced it would not allow any new shipyards for three years to support domestic shipbuilders facing plunging demand.China State Shipbuilding Co, the country's largest shipbuilder, surged the daily limit of 10 percent to close at 58.48 yuan. Guangzhou Shipyard International Co and CSSC Jiangnan Heavy Industry Co also jumped the daily limit. Guangzhou Shipyard closed at 20.89 yuan, and CSSC Jiang nan closed at 15.70 yuan.Baoshan Iron and Steel Co, China's biggest steel maker, fell 1.89 percent to 5.71 yuan. Angang Steel Co dropped 3.56 percent to 8.41 yuan.
Yangshan mega terminal Phase 3, Stage 1 passes state inspection
PostTime:2008-12-11 08:03:21 View:1212
SHANGHAI Port's Yangshan Terminal Phase 3, Stage 1 project has recently passed an official state acceptance inspection, Xinhua reports.The project has a quay length of 1,350 metres with four container berths of 70,000 to 150,000 tonnes and an aggregate capacity of 2.8 million TEU each year. The facility was finished in June and has been in trial runs ever since.The project has raised the total of container berths in Yangshan port area to 13 and the aggregate quay length to 4,350 metres, effectively relieving the heavy pressure on the port of Shanghai's capacity shortage.The project is estimated to be able to handle more than 2.6 million TEU by the end of 2008, while the whole Yangshan port area (including Phase 1, 2 and 3) can handle up to 8.5 million TEU, taking up 30 per cent of Shanghai Port's annual target.
Shanghai Int'l Port to buy new port assets in Shanghai
PostTime:2008-12-10 08:20:57 View:578
Shanghai International Port (Group) Co Ltd (Shanghai Port), China's largest port operator, plans to buy the second section of Yangshan Port Phase 3 from Shanghai Tongsheng Investment Group, its third largest shareholder, the Shanghai Daily reported.Shanghai Port said that the company expects to generate net income of RMB 43 million from the Phase 3 section of Yangshan Port. The port operator plans to raise RMB 3.7 billion (US$540 million) via a bond offering to help fund the deal.Last week, Shanghai Port secured the approval from its board of directors on the issuance of the one-year short-term bonds, China Knowledge reported earlier.Shares of Shanghai Port edged up 5.88% to close at RMB 4.14 last Friday.
Shanghai port to spend $2.9b on expansion
PostTime:2008-12-09 08:00:36 View:482
Shanghai, already the world's second-busiest container port, completed the third phase of its deep-water and will spend roughly US$2.9 billion on further expansion despite the global economic crisis, the South China Morning Post reported.With the end of construction of the third phase of the Yangshan Deepwater Port, its total capacity would be 9.3 million TEUs a year, with 16 berths stretching over 5.6km.The further expansion, from next year, aims to surpass Singapore to become the world's largest container port. The city overtook Hong Kong last year.Still, Shanghai has cut its target for container traffic to 28.5 million TEUs from 30 million as the global crisis has hit the city's shipping industry.It still expects to retain its position as the world's number two container port based on TEUs.Shanghai's port handled around 26 million TEUs of cargo last year, up 20.4 per cent from 2006.Work on the western part of the Yangshan port, due to start next year, will include 10 to 12 additional berths capable of handling seven million TEUs of cargo a year after its completion in 2013.Shanghai was aiming for Yangshan port to have nearly 30 berths by 2020, almost half of the capacity of the Yangtze Delta area. At present, Yangshan contributes around 30 per cent of the city's total port capacity.
With Yangshan purchase, Shanghai poised to beat Singapore
PostTime:2008-12-09 07:57:10 View:559
SHANGHAI International Port Group is buying part of the new Yangshan container dock and thus threatens Singapore's No 1 spot as the busiest container port in the world.News of the acquisition from Tongsheng Investment Group, a one-third owner, pending approval from shareholders, came in a statement to the Shanghai Stock Exchange, and will add 1.15 million TEU capacity in 2009 and 1.3 million TEU in 2010.The port operator is to sell CNY3.7 billion (US$540 million) in one-year bonds to fund the acquisition from Shanghai Tongsheng Investment, but the overall sale price is as yet undisclosed, reports Bloomberg News.Such an acquisition is predicted to have Shanghai container volumes surpass Singapore's, with the addition of Phase 3 section likely to produce net income of CNY43 million over two years, said Shanghai Port in the report.Shanghai growth, according to the municipal statistics bureau over the last 10 months, has dropped to 8.7 per cent, likely a 12 per cent growth overall, down from 20.5 per cent growth in the full year 2007 when throughput hit 23.9 million TEU.
Shanghai Port to buy section of Yangshan Port
PostTime:2008-12-08 08:30:33 View:551
Shanghai International Port Group Co., operator of the world's second-busiest container harbor, will buy part of a new port in the city because of China's rising exports. The company will buy the second section of Yangshan Port Phase 3 from Shanghai Tongsheng Investment Group, its third biggest shareholder, it said in a Shanghai stock exchange statement today. The port operator will sell 3.7 billion yuan ($540 million) of one-year bonds to help fund the deal, it added without giving a total price for the acquisition.Shanghai is set to overtake Singapore as the world's busiest container port as early as this year because of China's rising exports of toys, textiles and computers to the U.S. and Europe. Still, nationwide traffic growth may slow to 12 percent this year from 20 percent last year because of the global recession, according to Shanghai Shipping Exchange.The Phase 3 section will likely generate net income of 43 million yuan in the coming two years, said Shanghai Port, which already has ventures in the first two phases. The section will likely handle 1.15 million containers next year and 1.3 million in 2010, the company added. The acquisition is pending shareholder approval.Shanghai Tongsheng owns 17 percent of the company. The port operator sold 4 billion yuan of one-year bonds in July.Shanghai Port closed little changed at 3.90 yuan in trading in the city today ahead of the announcement. The company is down 57 percent this year amid a wider stock sell-off and concerns about slowing growth.The city's container throughput rose 8.7 percent in the first 10 months, according to the municipal statistics bureau. That compares with a 20.5 percent increase for the whole of last year, when the port handled 23.9 million containers.
CSCL report first 3Q net loss since 2004, difficulties ahead
PostTime:2008-11-21 08:10:44 View:600
SHANGHAI-based China Shipping Container Lines reports its first net loss since its 2004 at CNY271 million (US$39.70 million) in the third quarter due to falling freight rates on Asia-Europe routes with ebbing demand.CSCL managing director Huang Xiaowen said the company's operating environment remains grim in the fourth quarter, Reuters reported. "Fuel prices have come down, but the US financial turmoil has spread to other economies," he said.