AP Moller-Maersk’s towage and emergency response firm Svitzer has signed a co-operation agreement with China’s Qingdao Port in a bid to increase co-operation in its towage business, according to Seatrade Maritime.
It was previously reported that Maersk were involved in a deal with Hyundai Heavy Industries for a ship-order worth around US$2 billion.
Zheng Minghui, Director of Qingdao Port, said that Qingdao Port is currently in the process of expanding its facilities and believes that the new towage venture with Maersk’s Svitzer will help to sustain growth at its port.
Maersk is currently the world’s largest shipping company and own a significant stake in various container terminals globally.
Qingdao Port is ranked seventh in Alphaliner’s top 30 global ports report, having increased its TEU throughput by more than one million in 2014.
Chinese ports are expected to see massive growth between now and 2020, with annual TEU throughput anticipated to increase by as much as 6% year-on-year.