Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

ICTSI enters Chinese port market

ICTSI enters Chinese port market

Manila: International Container Terminal Services Incorporated (ICTSI) is to purchase of 60% of Chinese port operator, Yantai Gangtong Container Terminal Company (YGCTC). The purchase - ITCSI's first venture into the Chinese port market - is part of a joint venture with state owned Yantai Port Group Company and SDIC Communication, each of which will retain a 20% stake in YGCTC.

The transaction is subject to regulatory approvals in the People's Republic of China, including the approval for the conversion of the YGCTC into a Sino-foreign joint venture enterprise.

Located within the Port of Yantai, YGCTC operates container berths 38/39 of the Yantai Gangtong Terminal, including a 280,000-square meter container yard and back up area. Container traffic through the port saw a 68.4% surge last year to 1.169m teus.  [10/01/07]

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish