Cosco interested in Dalian stake

Cosco Pacific, the port operating arm of Cosco Group, is expected to take an 8% shareholding in Dalian Port Container Terminal. The stake is being taken up through a Yn37.5m joint venture investment by Cosco Pacific (China) with the Port of Dalian Authority, Shanghai Port Container Co, PG Logistics and Cosco's shipping division, operating locally as China Dalian Ocean Shipping Agency. The port authority will own 89.5% in the joint venture. The terminal is already being used for handling containers, and is being expanded to include container storage and freight forwarding facilities.