NOL partners with SITC on Qingdao terminal
Neptune Orient Lines Ltd. on Tuesday said it has entered into an agreement with SITC Group to form a 50-50 joint venture company to build and operate a container terminal in the port of Qingdao in northern China.
The joint venture would develop a container handling facility in Qingdao in accordance with a terminal concession awarded to SITC in 2005. Both NOL's liner shipping arm, APL, and SITC would contribute substantial container volumes to the new facility once it is operational.
Qingdao is China's third-busiest container port and is located near the southern entry to Bohai Bay. It is already an important hub for the range of line haul and feeder shipping services operated by APL, NOL said in a statement.
NOL partners with SITC on Qingdao terminal
