Tianjin Port Development Holdings will pay $1.4 billion to acquire a 56.8 percent stake in rival Tianjin Port Co.
The companies are already linked at management level but compete against one other for cargo into Tianjin, the report said.
Tianjin is the biggest port in the northern cluster of ports around China’s Bohai Rim. It’s also the nearest large container gateway to Beijing.
The two operators each handled about 2 million TEUs in 2008, part of Tianjin’s total throughput of 8.5 million TEUs, a near 20 percent rise over 2007 throughput.
Brokerage Compliance Symposium
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Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now