China Shipping buys stake in Nansha terminal operator

China Shipping buys stake in Nansha terminal operator    China Shipping is now a joint operator of the port of Nansha’s Phase 1 container quay after its subsidiary China Shipping Port Development Co. Ltd. acquired a 40 percent share of Nansha Port Co. Ltd. No financial details were disclosed.
   Nansha Port Co. is an affiliate of Guangzhou Port Group Co. Ltd.
   The port of Nansha, located near Guangzhou on the western side of the Pearl River Delta in South China, opened in 2002.
   Nansha’s Phase 1 container quay is equipped to handle vessels with capacity up to 10,000 TEUs. It is 1,400 meters in length with four 50,000 tonnage container berths and 3 cargo quays.
   Since 2002, China Shipping Container Lines has moved six deep sea services and four intra-Asia routes to Nansha. In 2005, the port handled 1.08 million TEUs and China Shipping expects that to increase to more than 2 million TEUs in the coming years.
   “China Shipping Container Lines has established her container transship center in Nansha Port across South China regions. The successful cooperation in the Nansha Port project will absolutely contribute a lot in the building of China Shipping Group’s status as a top 10 global shipping line,” China Shipping said.
   In April last year, COSCO Pacific and the Guangzhou Port Group started a joint venture company to develop a second 4.2 million TEUs container terminal at Nansha. Nansha Port Phase II will commence operations this year.