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Sinopec's Qingdao terminal trades LNG on CHPGX

PostTime:2018-10-12 11:23:13 View:29

China’s Sinopec said its Qingdao LNG terminal for the first time traded volumes of the chilled fuel on the Chongqing Petroleum and Gas Exchange (CHPGX) at the end of September. The terminal sold 3,340 tons of LNG on September 28, the company said in a statement noting the sale marks its entry in the North China market. Sinopec added that earlier this year China’s National Development and Reform Commission urged the companies to conduct transactions through platforms such as Shanghai and Chongqing Oil and Gas trading centers in order to establish the market mechanisms and form market transaction prices. The company added that the next step is to initialize trade of Tianjin LNG volumes on the Shanghai Oil and Gas Trading Center. The goal is to gather experience by trading smaller volumes during the non-heating period before fully engaging in trade after the heating period starts, Sinopec said.

Fully automated Qingdao CT lifts 790,000 TEU in first year

PostTime:2018-05-16 07:58:47 View:84

THE fully automated container terminal at the Port of Qingdao has lifted 790,000 TEU in its first year of operation, the Qingdao Port Group has announced. The automated terminal was put into operation on May 11, 2017 with an average loading efficiency of 26.1 containers handled by a single crane per hour, reports Xinhua.  A year later, its efficiency has increased to 33.1 containers, 50 per cent higher than the global average. So far the port has opened 16 routes with a monthly throughput of 100,000 TEU. The port is considering opening more berths.  

Nansha up 10.5pc in 2017 to 13.9 million TEU surpassing Qingdao

PostTime:2018-01-30 09:47:28 View:87

THE Port of Guangzhou-Nansha increased container throughput in 2017 by 10.5 per cent year on year to 13.9 million TEU. This growth was attributed to the rapid increase in the transpacific trade with the United States, handling 639,981 TEU to and from the US, a 32.6 per cent year-on-year leap forward. Said Nansha-Guangzhou Port America CEO John Painter: "It seems Port of Nansha is really catching on with the North America marketplace, and the industry recognises our proven value proposition.  The port has four services to the US west coast, and Mr Painter said the port and shippers are actively seeking an east coast service. Nansha is the only deepwater port on the west side of the Pearl, an area that is less congested than the Shenzhen and Hong Kong on the east side of the delta, he said. It is also close to many factories providing products for export as well as a rising population of domestic consumers.  Mr Painter told IHS Media that major BCO shippers, anxious to look good to environmentalist investors such as civil service pension funds, so look to their supply chains reducing their carbon footprint and appearing as green as they can. So rather than truck the exports to more distant coastal ports like Shenzhen and Hong Kong from inland factories were wages are lower, upstream Nansha is increasingly preferred as it cuts truck transits and wins social responsibility brownie points. Mr Painter said the port and shippers are actively seeking an east coast service. The port's location is the only deepwater port on the west side of the Pearl River Delta, which is a key to the recent surge. 

MSC has Qingdao yard add 3,000 TEU to eleven 14,000-TEU ships

PostTime:2018-01-03 08:30:27 View:167

THE Mediterranean Shipping Company (MSC) has ordered Qingdao's Beihai Shipbuilding to raise the capacity of eleven 14,000-TEU vessels to 17,000 TEU by inserting new sections amidships lengthening them from 365 to 394 metres. The two companies have signed a firm contract to upgrade the capacity of nine 14,000 TEU vessels, and the carrier will confirm the contract for the conversion of a further two 14,000 TEU vessels at the beginning of next year, reported Singapore's Splash 24/7. MSC currently has eleven 22,000-TEU ships under construction at South Korea's Daewoo Shipbuilding and Marine Engineering.

Qingdao Port in $45m storage jv with PetroChina

PostTime:2017-08-28 17:39:47 View:108

Qingdao Port International is joining up with PetroChina unit PetroChina Fuel Oil to build a 600,000 cu m crude oil storage tank at the Dongjiakou Port Area. The joint venture to build the facility will have an investment value of RMB300m ($45.2m) of which Qingdao Port will take a 49% stake. The joint venture will be engaged in the storage, stevedoring and transmission of oil products including crude oil, fuel oil, diluted asphalt and wax oil, the company said in a stock market announcement. Giving its rationale for the investment the company noted that the port s one of world’s top international ports and also an important domestic import and export port and transit base of oil products. "Through the cooperation between the company and PetroChina Fuel Oil in the project, both parties will leverage on their respective advantages and further improve the oil storage and transportation facilities in Dongjiakou Port Area, so as to further enhance the core competitiveness of the Port of Qingdao in respect of transportation of oil products," the company said. “The facility will also provide a solid foundation and strong support for the Port of Qingdao to provide the wide inland customers with high-quality and high-efficiency port logistic services and to consolidate the oil resource markets. Thus, the cooperation will bring economic and social benefits to both parties and achieve win-win development," Qingdao Port added.

Asia's first automated box shop now on stream in the Port of Qingdao

PostTime:2017-05-22 08:33:33 View:158

ASIA's first fully-automated container terminal has started operations in China with the opening of Phase 4 of the 5.2 million TEU capacity Qingdao New Qianwan Container Terminal (QQCTN). Having already docked the 13,386-TEU Cosco France, QQCTN features 660 metres of quay equipped with seven remotely-controlled ship-to-shore (STS) cranes, 38 automated stacking cranes (ASCs) and 38 battery-powered automated guided vehicles (AGVs), reports London's Container Management magazine. The facility can operate after dark, as it is equipped with laser scanners and positioning systems able to locate the four corners of each container, grab them accurately, and load them onto driverless trucks. The routes and tasks of these electric-powered smart trucks are controlled digitally, and they have the intelligence to be able to determine when they need to be recharged. This technology has the potential of reduce labour costs by up to 70 per cent and increase efficiency by 30 per cent. While it used to take 60 workers to unload a single cargo ship, the automated facility requires only nine works to complete the same job.  

Cosco Shipping Ports raises stake in Qingdao port group

PostTime:2017-02-15 08:55:53 View:290

China-focussed Hong Kong-listed ports operator China Shipping Ports (CSP) has agreed to take a bigger stake in Qingdao Port International, the main operator at Port of Qingdao, through a combination of cash and a share swap, the company said in a stock market announcement. Through its Shanghai China Shipping Terminal Development unit, CSP is buying an additional 16.8% stake in QPI for RMB5.8bn ($841.9m), adding to its current 2.0% stake. Of this RMB3.2bn will be paid for with the divestment of its 20% stake in Qingdao Qianwan Container Terminal and the remaining RMB2.6bn will be paid for in cash. The two companies also agreed to further deepen their cooperation towards developing the Port of Qingdao into an international shipping hub in northeast Asia, co-invest in overseas terminals including at the Khalifa Port Container Terminal II project in Abu Dhabi as well as the setting up of terminal project management companies to cooperate in the management and operation of projects in China and overseas.

Cosco Shipping Holdings to boost shareholding in Qingdao Port

PostTime:2017-01-25 10:19:50 View:255

TO pave the way for Cosco Shipping Ports to increase its shareholding in Qingdao Port International (QPI) the partners have entered into a Transaction Agreement. Taking the proposed New H Share Issuance plan of QPI into consideration, the subscription shares will represent 16.82 per cent of the issued share capital of QPI, and Cosco Shipping Ports' shareholding in QPI will rise to 18.41 per cent in total, New York's Marine Link.  Shanghai China Shipping Terminal Development Co Ltd (SCSTD), a wholly-owned subsidiary of Cosco Shipping Ports, will subscribe for 1,015,520,000 non-circulating domestic shares in QPI at a total consideration of CNY5.8 billion (US$846.74 million) - equivalent to CNY 5.71 per share) - of which CNY3.2 billion will be settled by the transfer of a 20 per cent equity interest in Qingdao Qianwan Container Terminal Co Ltd (QQCT) to QPI and the remaining CNY2.6 billion will be settled in cash.  Cosco Shipping Ports and QPI will also enter into the strategic cooperation agreement on the same date. The parties expressed the intent of the following strategic co-operation in the future: Further deepening co-operation towards developing the Port of Qingdao into an international shipping hub in northeast Asia; co-investing in overseas terminal projects (including the Khalifa Port Container Terminal II project in Abu Dhabi); and setting up terminal project management companies) to co-operate in the businesses of management and operation of PRC and overseas terminal projects of Cosco Shipping Ports agreed by the parties.  For Cosco Shipping Ports, the increased investment in, and the subsequent strategic co-operation with QPI will strengthen the company's leading position in the greater China region, which is in line with the company's strategy of enhancing control over terminal assets. 

Cosco Shipping Ports, Qingdao Port International ink strategic agreement

PostTime:2017-01-23 11:49:20 View:168

Cosco Shipping Ports has announced a plan to acquire shares in Qingdao Port International Co by way of both equity interest transfer and cash. The transaction will be done via Cosco Shipping Ports’ subsidiary Shanghai China Shipping Terminal Development Co (SCSTD). SCSTD will subscribe to approximately 1m non-circulating domestic shares in Qingdao Port International at a total consideration of RMB5.8bn ($846.7m), of which RMB3.2bn will be settled by the transfer of a 20% equity in Qingdao Qianwan Container Terminal (QQCT) to Qingdao Port International and the remaining amount will be settled in cash. QQCT is currently owned as to 49%, 31% and 20% by PTS Holdings, Qingdao Port International and SCSTD, respectively. Upon completion of the transaction, Cosco Shipping Ports will increase its shareholding in Qingdao Port International from about 2.01% to about 18.41%. “Upon completion of the acquisition and the disposal, the company will have an increased direct stake in Qingdao Port International rather than investing only in a company which operates a single container terminal in the port of Qingdao,” Cosco Shipping Port stated. Meanwhile, Cosco Shipping Port also entered into a strategic cooperation agreement with Qingdao Port International to co-invest in overseas terminal projects and to set up terminal project management companies. “The increased investment in, and the subsequent strategic cooperation with, a major port in China will also strengthen the company’s leading position in the Greater China region, which is in line with the company’s strategy of enhancing control over terminal assets,” Cosco Shipping Port said.

APMT expands at Vado near Genoa with Cosco and Qingdao port companies

PostTime:2016-10-21 08:30:55 View:246

COSCO Shipping Ports and Qingdao Port International Development have become partners with APM Terminals (APMT) to operate the existing Vado Reefer Terminal, and the new deep water container terminal under construction in Vado near Genoa, opening in 2018. APMT has concluded an agreement with China Cosco Shipping Ports subject to customary conditions for the sale of a minority share in a new joint venture created for the APM Terminals Global Terminal Network's operations in Vado, reports Rotterdam's World Maritime News.  A similar agreement was also concluded with Qingdao Port International Development (Hong Kong) Co Limited, a wholly-owned subsidiary of Qingdao Port International Co Ltd, which will become an indirect minority shareholder in the joint venture.  The agreements include interests in both the existing Reefer Terminal in Vado, the largest refrigerated cargo facility on the Mediterranean Sea, and the new 800,000 TEU capacity deep-water terminal currently under construction at the Port of Vado. APMT will have a 50.1 per cent share and will operate both the Reefer Terminal and the APM Terminals Vado container terminal; Cosco Shipping Ports will have a 40 per cent share and Qingdao Port International Development (Hong Kong) Co Limited a 9.9 per cent share. The signing ceremony with Cosco Shipping Ports was held in Shanghai, and attended by current APM Terminals CEO Kim Fejfer, as well as Morten Engelstoft, who will succeed Mr Fejfer as CEO on November 1. "Through global partnerships and shared goals of operational excellence, there is much we can achieve together, even in the current difficult business environment" said Mr Fejfer, adding "and we are pleased to build upon our close relationships with Cosco Shipping Ports, and the Qingdao Port Group." Cosco Shipping Ports is a subsidiary of Cosco Shipping Group, which assumed control over the Greek Port of Piraeus earlier this year.  With the support of its affiliated shipping line, Cosco Container Lines, the world's number one in total tonnage and number four in container capacity, Cosco Shipping Ports has been expanding its operations in the Mediterranean Region as part of the "One Belt One Road" initiative to strengthen logistics links between China and Europe.  Cosco is already a shareholder in several operations within the APM Terminals Global Terminal Network, such as the Suez Canal Container Terminal, APM Terminals Zeebrugge and Qingdao Qianwan Container Terminal (QQCT). APM Terminals and the Qingdao Port Group have shared investments in QQCT and four other container terminals in Qingdao, and most recently, Qingdao Port Dongjiakou Multi-Purpose Terminal.  Qingdao Port is the fifth-largest container port on the Chinese mainland, and the eighth largest worldwide, with 17.4 million TEU handled in 2015. The Port of Vado is located in north-western Italy in the region of Savona on the Ligurian Coast, near Genoa, Italy's busiest container port, with a throughput of 2.24 million TEU in 2015.  The expansion of Vado's facilities is part of the port's master plan to create new and improved supply chain capabilities for markets in Northern Italy, Switzerland and Southern Germany. APM Terminals Vado will be a new semi-automated container terminal scheduled to become operational in 2018, with the unique ability to accommodate ultra-large container ships (ULCS) of up to 19,000 TEU capacity without any physical restrictions among North Italian ports. 

APM Terminals diversifies with Qingdao multipurpose terminal jv

PostTime:2015-11-05 08:22:22 View:288

APM Terminals has secured a 20% stake in the newly developed multipurpose terminal in Qingdao’s Dongjiakou Port, located on China’s Bohai Rim in the Shandong province. Dongjiakou Port area is expected to become a national hub of Chinese grain and energy bulk cargoes, with a projected annual throughput of more than 300m tonnes. Qingdao port handled around 7m tonnes of grain in 2014, with continued strong growth again in 2015. “China… is a crucial center of global trade and logistics, and we are very pleased to advance our multi-port strategy of growth beyond containers in this exciting and fast-growing market,” said APMT ceo Kim Fejfer. “We are fully prepared to grow with the grain market in China, and around the world.” Francois Delenclos, APMT vp of business development, added: “Worldwide seaborne  grain shipments have increased  to over 400m tons annually according to the World Grain Council, requiring a specialized infrastructure and expertise to keep up with this demand, while helping to improve the quality of life for millions of people around the world. This is a high-growth market where APM Terminals can invest and deploy its operational expertise in key locations.”  

Qingdao Port working with AP Moller-Maersk on tug, bulk business, Italy port project

PostTime:2015-11-05 08:18:38 View:236

Qingdao Port has entered into various cooperation agreements with the giant AP-Moller Maersk Group. The first is a joint venture (jv) with the Asian unit of Maersk tug arm Svitzer to operate and manage a port tug business. Qingdao Port will own 55% of the JV, while Svitzer Asia will take up the remaining 45%. In addition, Qingdao Port and Maersk's terminals arm APM Terminals will look into setting up a JV company to operate and manage the Vado Ligure Port terminal project in Italy with other strategic partners. And in exchange APM Terminals, through its bulk handling unit APM Terminals Bulk Qingdao, will get a 20% stake in Qingdao Port's multi-purpose berth project in Dongjiakou, which is set to become one of the biggest bulk port terminals in China.The agreements would expand the strategic cooperation between Qingdao Port and Maersk Group in China from the container terminals in Qianwan to bulk cargo terminals in Dongjiakou as well as the port tug business in the Port of Qingdao, the company said in a stock market announcement. Meanwhile cooperation on the Vado Ligure Port terminal project will boost "the implementation of the internationalization strategy of the company, improving the operation and management level of container terminals, bulk cargo terminals and port tug business of the company to international advanced standards, so as to achieve satisfactory economic and social benefits as well as powerful combination and win-win progress," it added.