CKYH alliance buys into Euromax Terminal
CKYH alliance carriers COSCO (through its terminal operating arm COSCO Pacific), “K” Line, Yang Ming and Hanjin Shipping have signed a memorandum of understanding with Europe Container Terminals to develop and operate 'Phase I' of the new Euromax Terminal in the Port of Rotterdam.
The MoU will lead to the formation of a joint-venture company, with ECT, part of the Hutchison Port Holdings Group, holding a 51-percent stake in the project and the remaining 49 percent being held by the Asian CKYH alliance.
Euromax is under construction near the ECT Delta Terminal in the Maasvlakte area of the Dutch port. Phase I is expected to be operational in 2008 with a capacity of 2.3 million TEUs. The terminal will include an area of 77 hectares, a quay length of 1,500 meters (4,291 feet) and a depth alongside of 16.65 meters (54.6 feet).
After all phases of development are complete, Euromax will have a total capacity of 5.6 million TEUs.