Tianjin port
CMA CGM Group has signed a 50-year concession agreement to build and operate a 1.7m teu (twenty foot equivalent unit which is a single container) terminal in the Port of Tianjin. The new terminal is expected to become operational in 2011 and will feature a 1,100-meter quay.
It will be operated by a joint venture consisting of CMA CGM (20%); Tianjin Port Holding, a Tianjin Port Group subsidiary listed on the Shanghai Stock Exchange (60%), and Hong Kong-based Asia International Shipping (20%).
The group, which is already present in the Chinese port of Xiamen and operates a network of 64 offices across the country, currently offers 30 weekly services from China, with a departure every six hours.
Source: SeaTrade Asia Online