Guangzhou Port moves forward on provincial port asset consolidation

China’s Guangzhou Port Group has acquired a 52.51% stake in Zhongshan Port & Shipping Enterprise Group for RMB500m as a start to a ports consolidation plan of Guangdong province.

Zhongshan Port & Shipping Enterprise Group will become a subsidiary of Guangzhou Port Group once the transaction completed. As one of the two principal parties involved in Guangdong ports consolidation action, Guangzhou port will integrate provincial port resources through capital increase and assets acquire.

The municipal governments of Guangzhou and Zhongshan signed a strategy cooperation agreement to jointly develop port & shipping business and major infrastructure projects. The two parties will co-operate on the fourth phase terminal project in Nansha port area, which is scheduled to be completed in the second half of 2020.

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The Department of Transportation of Guangdong Province issued plans earlier this year making Guangzhou port and Shenzhen port acted as the two major parties to consolidate port assets in Guangdong and further improve ports operation efficiency and competitiveness.

Currently, Guangdong province has five major costal ports of Guangzhou, Shenzhen, Zhuhai, Shantou and Zhanjiang, and two inland rive ports of Foshan and Zhaoqing.

By the end of 2017, there were 2,715 productive berths in Guangdong. Guangdong achieved 66.37m teu container throughput and 1.98bn tons cargo throughput in 2017, separately ranking as number one and number two in the country.

Posted 13 December 2018

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Katherine Si

China Correspondent

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