Cosco Shipping Ports to build mega logistics park at Guangzhou port
TERMINAL operator Cosco Shipping Ports (CSP) plans to develop a 254,000-square-metre logistics park in the southern Chinese city of Guangzhou that has a regional population of 64 million and boasts one of the world's busiest box ports with 2018 throughput hitting 21
TERMINAL operator Cosco Shipping Ports (CSP) plans to develop a 254,000-square-metre logistics park in the southern Chinese city of Guangzhou that has a regional population of 64 million and boasts one of the world's busiest box ports with 2018 throughput hitting 21.92 million TEU.
CSP signed an investment agreement with the Guangzhou Nansha Economic and Technology Development Zone Commercial Bureau, which operates the Nansha free trade zone and includes a 15-square kilometre port cluster, the majority of which is situated on Longxue island in the Pearl River Delta.
Scant details are currently available, however, it appears from the comments made by CSP that the logistics park will be built next to the Nansha box terminal on Longxue Island, New York's FreightWaves reported.
CSP wants to develop a 'supply chain platform' for high-end warehousing for businesses including cross-border e-commerce, auto parts and accessories distribution, fresh food and cold chain for pharmaceutical products.
CSP managing director Zhang Wei said that the development will be a new growth driver for Cosco Shipping Ports. 'Cosco Shipping Ports' investment in port supply chain project in Nansha heralds the company's initiative to take advantage of scarce logistics resources near the port and develop high-end warehousing business.'
Mr Wei continued: 'Compared to traditional simple warehous(ing), this high-end warehousing project near the port is irreplaceable and has a higher plot ratio and more scientific and efficient warehousing space. Located behind the container terminal, the project enjoys (a) good location, strong synergy effect and low transportation costs.'
The Nansha port area is the main port of Guangzhou. It comprises 16 container berths with a 5,718-metre quay length and 61 quay cranes that have the ability to handle ships 23 rows across. The channel depth is 17 metres with a width of 243 metres. The terminal also has 57,600-square metres of on-dock warehousing and 63,000 square metres of off-dock warehousing.
In 2018 Guangzhou port handled 21.92 million TEU, making it the fifth busiest port worldwide after Shenzhen with 25.74 million TEU.
As of December 31 2018, CSP operated and managed 283 berths at 36 ports globally, of which 192 were for containers. The company said it handled 117.37 million TEU last year, an increase of 17.1 per cent over the previous year on revenues of US$1 billion, up 57.6 per cent year on the back of the completion of acquisitions and the consolidation of revenues.