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CSP to develop Nantong terminal into transhipment hub for lower Yangtze

COSCO Shipping Ports (CSP) has officially started operations at its Nantong Tonghai Terminal on the Yangtze River.

With Nantong Port’s good location, CSP plans to develop Nantong Tonghai Terminal into a transhipment hub for the lower Yangtze River as part of the Yangtze River Economic Belt and optimize its terminals network in the region.

The terminal has three container berths and one bulk berth, with annual handling capacity of 1.47m teu and 5.37m tons respectively. Apart from the Yangtze River feeder services Nantong Tonghai Terminal also has a Japan service calling and various local direct routes.

All domestic and foreign trade companies will be migrated from the old Langshan Port to Nantong Port in phases from July with full migration expected to be completed by the end of August 2018. Nantong Tonghai Terminal expected to see throughput of 250,000 teu for 2018.  

In 2017 CSP acquired 51% equity interest in Nantong Tonghai Terminal for RMB105m ($15.7m). Along with the terminal operating deal, CSP also secured land rights to develop a container freight station and logistics park just outside the terminal area.

In what it bills a “new model of integrated development and operation of terminal parks”, CSP sees the development of the Nantong Tonghai logistics project as a way to enhance the competiveness of the terminal and increase its profitability.

Read More: Overcapacity puts pressure on China ports cargo growth: Moody's

CSP has been diversifying its core terminals business to move into supply chain services in an effort to boost profitability. Fellow Chinese ports group China Merchants Port also actively uses this strategy in its global port developments.

CSP md and vice chairman Zhang Wei said: “The commencement of operation of Nantong Tonghai Terminal will further optimize the Company’s terminals network in the Yangtze River Delta.  We plan to develop the two subsidiaries - Wuhan Terminal and Nantong Tonghai Terminal into major transshipment hubs in the middle and lower reaches of the Yangtze River.”

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