Qingdao Port set for massive expansion
A coalition of terminal operators plan to invest $1 billion to boost capacity at the Port of Qingdao in China, one of the operators said in a statement Monday.
The joint venture, which is called the Qingdao Qianwan Container Terminal Co. and includes APM Terminals and COSCO Pacific, and the Qingdao Port Group, signed a deal with Pan Asia International Shipping to build 10 berths, with a quay length of 3,400 meters, at the new terminal. It would have capacity for 6 million TEUs annually, COSCO Pacific said.
The new berths are already under construction and four are expected to open by the end of 2008.
Qingdao's port currently has 11 berths, all in the north bay of Qingdao Qianwan. The expansion will take place in the harbor's south bay, and will eventually push Qingdao's container capacity to 12.5 million TEUs per year.
Qingdao Port set for massive expansion
