CMA CGM to build new terminal at Tianjin
27 August 2008
Tianjin port CMA CGM Group has signed a 50-year concession agreement to build and operate a 1.7m teu (twenty foot equivalent unit which is a single container) terminal in the Port of Tianjin. The new terminal is expected to become operational in 2011 and will feature a 1,100-meter quay. It will be operated by a joint venture consisting of CMA CGM (20%); Tianjin Port Holding, a Tianjin Port Group subsidiary listed on the Shanghai Stock Exchange (60%), and Hong Kong-based Asia International Shipping (20%). The group, which is already present in the Chinese port of Xiamen and operates a network of 64 offices across the country, currently offers 30 weekly services from China, with a departure every six hours.
Source: SeaTrade Asia Online
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