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Cosco and trio of partners in iron ore terminal investment

Cosco Pacific is setting up a joint venture with China Merchants Holdings (International) Co and two other companies to invest, manage and operate an iron ore terminal in Dongjiakou in Qingdao.

Vincent Wee, Hong Kong and South East Asia Correspondent

June 4, 2013

1 Min Read
Kalyakan - stock.adobe.com

The two-berth terminal has a total investment amount of RMB3.8bn ($613m), has a combined capacity of 500,000 metric tons, Cosco Pacific said in a statement.

Cosco Pacific and China Merchants will each hold 25% in the project. while Qingdao Port Group will take up 30% and IMC Group the remaining 20%.

About the Author

Vincent Wee

Hong Kong and South East Asia Correspondent

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

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