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NYK grows its ro-ro presence in China

NYK grows its ro-ro presence in China

Beijing:  Tianjin Port Group has inked a deal with Japan's Nippon Yusen Kaisha (NYK Lines) and Norway's Wallenius Wilhelmsen Lines to set up a joint venture roll-on roll-off (ro-ro) terminal in the northern port city of Tianjin, the official Xinhua news agency reported.

Registered capital of the venture is 270 mln yuan, with the Chinese port operator holding a controlling 51 pct stake, the report said.

NYK will own 34 pct of the new venture while Wallenius Wilhelmsen will hold the remaining 15 pct.

The new ro-ro terminal, which will specialize in handling automobiles, has a designed annual capacity of 500,000 vehicles, the report said.

Auto throughput via Tianjin port increased 35 pct year-on-year to 60,551 units in the first quarter this year, the report noted.

NYK, with "K" Line, earlier this week signed with PSA to operate a ro-ro terminal in Singapore. NYK's China ro-ro network is already impressive with facilities in Guangzhou and Dalian.  [25/04/07]