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Qingdao Port Buys 33.3 Pct Stake in COSCO Shipping Ports (Abu Dhabi)

PostTime:2019-12-03 09:52:43 View:76

Chinese container terminal operator COSCO Shipping Ports Limited has entered into a deal to sell 33.3 percent of equity in its subsidiary COSCO Shipping Ports (Abu Dhabi) Limited to Qingdao Port International Development (Hong Kong) for USD 59.2 million. Abu Dhabi Terminal in Khalifa Port was the first terminal in which COSCO Shipping Ports held a controlling stake in the Middle East. “Disposal is expected to further improve the operational efficiency of Abu Dhabi Terminal, increase the terminal’s competitiveness in the Middle East and provide highly-efficient and better ports services to shipping companies. Furthermore, the company believes that the disposal would be beneficial to the two parties in maximizing their respective advantages, expanding terminal-extended business and deepening strategic cooperation in terminal business in the long run,” COSCO said in a filing to Hong Kong exchange. Upon completion of the sale, Abu Dhabi Terminal will be indirectly held as to approximately 60% by COSCO Shipping Ports and 30% by QPI Development respectively through CSP (Abu Dhabi), with Abu Dhabi Ports holding the remaining 10 percent in the company. Abu Dhabi Ports and COSCO Shipping Ports Limited opened CSP Abu Dhabi Container Terminal on December 20,  2018. The terminal is the result of the 35-year concession agreement between Abu Dhabi Ports and CSP. The deepwater, semi-automated container terminal has a design capacity of 2.5 million TEU and began with a handling capacity of 1.5 million TEU. The water depth of the terminal is 16.5 metres, allowing it to accommodate mega-vessels typically carrying in excess of 20,000 TEU.

Belt and Road: Qingdao port buys 33pc of Cosco's Abu Dhabi CT

PostTime:2019-12-02 08:32:33 View:71

QINGDAO Port International Development has agreed to purchase a 33 per cent stake in COSCO Shipping Ports (Abu Dhabi), a deepwater terminal located in Khalifa Port, for US$59 million. The terminal is CSP's first international greenfield subsidiary and offers a design capacity of 2.5 million TEU with 1,200 metres of quay. The water depth of the terminal is 16.5 metres, allowing it to accommodate mega-vessels typically carrying in excess of 20,000 TEU. At the time of the announcement, 90 per cent of the equity is owned by COSCO and the remaining 10 per cent is owned by an independent third party, meaning that Qingdao's share will be around 30 per cent. Said Qingdao Port: "The acquisition of shares is an important step for the company to actively integrate into the Belt and Road Initiative development, further implement the internationalisation strategy and further deepen strategic cooperation with COSCO Shipping Ports."

Qingdao Port to jointly develop oil storage facility with Zhenhua Oil

PostTime:2019-08-26 22:12:17 View:364

The northern Chinese port of Qingdao has inked a cooperation agreement with the state-owned oil company Zhenhua Oil to jointly develop oil storage facility and increase oil handling capacity of Dongjiakou port area at Qingdao port. The two parties will jointly fund and set up a joint venture, Qingdao Zhenhua Oil Warehouse Company, for the construction and operation of 800,000 cu m crude oil storage tank. The project will start construction by the end of this year and is scheduled for completion in 2020. The project aims to improve the crude oil storage and handling capacity of Dongjiakou port area. The advanced terminal facilities at Qingdao port and stable imported oil product resources from Zhenhua Oil will provide better oil storage and transportation services to the customers. Dongjiakou port area is the major oil product handling base in China. It currently has a VLCC crude oil terminal and an aframax terminal with a handling capacity of 25m tons annually. The port had started construction of the second phase oil terminal project including the second VLCC crude oil terminal plus another aframax terminal, which are

Qingdao Port and Petrobras inaugurate bonded spot crude oil depot

PostTime:2019-06-28 08:14:50 View:428

Chinese eastern port of Qingdao and Brazilian oil and gas firm Petrobras have inaugurated a bonded spot crude oil depot at Dongjiakou port area of Qingdao Port. Petrobras has signed an agreement with Qingdao port to use of four 100,000 cu m crude oil storage tanks. The depot, first of its kind ever built in a Chinese port, has just received 130,000 tonnes of crude oil from the Brazilian oil tanker. Chinese refineries are now able to buy bonded crude oil base on their needs via Qingdao port. Anelise Lara, senior vice president of Petrobras said that Brazilian crude oil now has a larger export platform in Qingdao, which would hopefully bring substantial earnings growth in the future. Petrobras expects to establish a long-term co-operative relationship with Qingdao port. Currently, Qingdao port, the leading crude oil import port in China, owns seven oil terminals and thirteen berths, which can accommodate up to 450,000 dwt oil tankers.

Qingdao Port join hands with Huawei for 5G technology development

PostTime:2019-06-26 08:15:55 View:457

Eastern Chinese port of Qingdao has inked strategy co-operation agreement with global information and communications solutions provider Huawei to jointly develop 5G technology. According to the agreement, the two parties will jointly develop an intelligent industrial zone, 5G technology and cloud computing for the digitalisation of Qingdao port. Cai Yinghua, president of Huawei EGB, China said that, Qingdao port is an important international port, which has the advanced automation terminal. Huawei expects to deepen the cooperation with Qingdao port to optimise intelligent port construction and further improve the operation efficiency of Qingdao. In May 2017, Qingdao Qianwan container terminal, the first full-automation terminal in Asia, officially launched operation. It could improve 30% terminal handling efficiency comparing to the traditional terminal. Currently, Huawei is in talks with several major Chinese ports including Guangzhou port, Qingdao port, Tianjin port and Ningbo-Zhoushan port for 5G technology testing and application, said Li Kewu, port digitalisation professional from Huawei. Last month, Huawei signed cooperation agreement with Guangzhou to develop 5G mobile technology for Guangzhou port and Great Bay area.  

Qingdao Port lists on Shanghai Stock Exchange

PostTime:2019-01-22 12:51:04 View:1262

Qingdao Port International Co Ltd, operator of the world’s seventh busiest port by shipping volume, was officially listed on the Shanghai Stock Exchange. The company’s stock price surged by 44.03 percent to reach 6.64 yuan ($0.98) per share shortly after the stock market opened and remained at the upper limit for IPO share price growth for the rest of the trading time. “The listing will give a new impetus to the company’s development as it is both on A-share and H-share markets,” Li Fengli, chairman of the board of the Qingdao Port Group. The company has been listed on the Hong Kong Stock Exchange since June 6, 2014. “Qingdao port will make greater efforts to bring interests to its employees and shareholders,” said Li, adding that the port aims to contribute more to China’s opening-up and the society. With a history of more than 100 years, Qingdao port is currently connected with over 700 ports in 180 countries and regions. The port recorded an operation revenue of 8.6 billion yuan from January to September in 2018, a 13.54 percent increase from the same period in 2017.

Qingdao Port has started construction of its second 300,000 tonne VLCC terminal

PostTime:2018-12-12 08:50:40 View:497

Qingdao port, the leading crude oil and ore handling port of China, has started building its second 300,000 tonne-class crude oil terminal at Dong Jia Kou port area with completion scheduled by the end of 2019. The terminal project includes one new 300,000 tonnne-class oil berth plus one 100,000 tonne-class berth and supporting facilities. The 25m tonne new crude oil handling capacity will be added when the terminal launched operation. Meanwhile, the port also started the construction of the 600,000 cu m crude oil storage tank at Dong Jia Kou. Jointly invested by Qingdao port and PetroChina, the tank will be mainly supporting local crude oil transportation and storage. Qingdao port started its crude oil business in 1976 and has the country’s top imported oil product uploading capacity. Currently, Qingdao port has four sectors of Qingdao Dagang port area, Huangdao oil port area, Qianwan port area and Dongjiakou port area. The port operates world’s largest 400,000 tonne-class ore terminal and 450,000 tonne-class crude oil terminal.

Sinopec's Qingdao terminal trades LNG on CHPGX

PostTime:2018-10-12 11:23:13 View:622

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:645

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:661

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:708

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:677

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.