China Tianjin Port Group is going to invest about US$1.9 billion in port development, giving a confidence vote in China’s port business, NewsTrak Daily reports.
Tianjin Port Group expects container throughput of 360 million tonnes and container throughput of nine million TEUs in 2009.
CargoNews Asia reports its business has come back since late January and it expects to see better business performance in April and May when international trades pick up following the effect of stimulus measures.
In January, Tianjin Port Group’s container throughput dropped slightly and in February, container throughput started coming back and the decrease began to minimize.