THREE container shipping terminals at the northern China port of Tianjin have signed a consolidation agreement in a bid to lower operating expenses, coordinate operational resources, unify service standards and boost the usage efficiency of terminals and depots
THREE container shipping terminals at the northern China port of Tianjin have signed a consolidation agreement in a bid to lower operating expenses, coordinate operational resources, unify service standards and boost the usage efficiency of terminals and depots. Tianjin Port Container Terminal will remain as the surviving entity of the merger, absorbing Tianjin Five Continents International Container Terminal and Tianjin Orient International Container Terminal, reported The Maritime Executive, Fort Lauderdale, Florida.
The shareholders will hold a stake in the new Tianjin Port Container company. Cosco Shipping Ports is a substantial shareholder of Tianjin Orient and Tianjin Five Continents, while China Shipping Terminal and China Merchants are substantial shareholders of Tianjin Five Continents.
Once the merger is finalised, the group will hold a 76.68 per cent equity interest in the new Tianjin Port Container entity that is listed within the 10th busiest port worldwide.
Tianjin Five Continents International Container Terminal has just automated its 31 rail mounted gantry cranes using the Navis N4 system. With the rise of mega ships, the terminal is now operating at its maximum capacity of 1.5 million TEU.
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