Shanghai Port to build new $7.2 billion box terminal

Shipyard Cargo Container Sea Port Freight forwarding service logistics and transportation. International Shipping Depot Custom Port for import export trade Transport Business manufacturing shipping

Shanghai International Port Group said it will spend CNY51.3 billion ($7.2 billion) to develop a new port and container terminal at the Yangshan Deep Water Port in Zhejiang province.

The project will have seven 70,000-ton and 15 20,000-ton container berths and supporting facilities with a total annual throughput capacity of 11.6 million TEU, Shanghai International Port Group (SIPG) announced.

Construction work is scheduled to start at the end of next month and finish within eight years maximum.

SIPG did not say how it will fund the project.

READ: China ports enjoy steady volume growth, Shanghai still leading

SIPG unit Shanghai Shengdong International Container Terminal will oversee the venture.

The Yangshan Deep Water Port is the world’s largest, with 22.8 million TEU in container throughput last year.

SIPG’s first-half net profit jumped 24 percent from a year earlier to CNY10.8 billion ($1.53 billion) on a 16 per cent gain in operating revenue to CNY20.1 billion (2.8 billion).

Earlier this month an empty container transportation centre with a 3 million TEU capacity started operations at Shanghai.

Daily Email Newsletter

Sign up to our daily email newsletter to receive the latest news from Port Technology International.

Supplier Directory

Be listed with industry leaders operating within Ports and Terminals

Webinar Series

Join 500+ attendees on average with a Port Technology International webinar

Latest Stories

Cookie Policy. This website uses cookies to ensure you get the best experience on our website.