NYK invests in Shanghai port container terminal
NYK Line expects to become an investor in Phase 3B of the Da Xiao Yang Shan Container Terminals, now being developed under the auspices of Shanghai International Port (Group) Co., Ltd.
Koji Miyahara, president of NYK, said NYK's container-handling volume in Shanghai has increased 50 percent during the last three years and the company expects to promote its business in Shanghai as a strategic market.
NYK first started weekly container vessel service from Shanghai in 1994, followed with the launch of North American West Coast service from the port as a member of the Grand Alliance in 1996. The company presently has 22 weekly services connecting Shanghai with various destinations around the world. NYK's handling volume in Shanghai during 2007 is estimated at more than 500,000 TEUs.
In addition to its investment in Phase 3B of the Da Xiao Yang Shan project, NYK has announced its investment in Phase 3 of Da Yao Wan Container Terminals in Dalian.
NYK has separately invested in China's roll on/roll off terminal businesses in Shanghai, Dalian, and Tianjin. The company said future expansion of ro/ro facilities, particularly in Shanghai and Tianjin, is on its agenda to meet increased demand for the service in these markets.