Shenzhen: A senior AP Moller-Maersk executive has pleaded for the Chinese government to further open up the shipping sector. Speaking at the World Shipping Summit in Shenzhen, Tommy Thomsen, the chairman of APM Terminals and a partner of AP Moller-Maersk Group noted how it can take longer to shift a container from Sichuan province to Shanghai than from Hamburg to Shanghai due to inland transport inefficiencies. Likewise, he observed how China spends 20% of its GDP on tranport and logistics costs, four times higher than the US. Thomsen called for the government to allow international companies to be allowed to get into the river shipping sector as well as the international transhipment of boxes in China - both pursuits currently only available to domestic firms and believed to be highly lucrative. [02/11/06]
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