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Taicang and Shanghai ports set up joint venture terminal operator
TAICANG and Shanghai have entered an agreement after years of negotiation to set up a joint venture terminal operator to operate two Taicang berths, Xinhua reports.
Shanghai International Port Group (SIPG) will hold 45 per cent's stake and Taicang 55 per cent in the joint venture company, Taicang Port SIPG Zhenghe Container Terminal Co Ltd. The company will operate two 50,000-tonne berths at Taicang's phase three terminal.
Shanghai will move the handling of transshipments to Yangshan terminal from its Waigaoqiao terminal to Taicang, a river port 60 kilometres up the Yangtze. The move is expected to lead to more transshipments from the neighbouring regions of Suzhou, Wuxi and Changzhou shipped on waterway instead of transported on road to Yangshan.
Shanghai will also move the handling of transshipments from upper and middle Yangtze River region like Chongqing and Wuhan to Yangshan. This will add about 600,000 TEU per year to Taicang's throughput.
The first fleet of eight barges for moving transshipments between Taicang and Yangshan will become operational in June.
Shanghai also aims to move its near-sea shipping services to Taicang and increase the sailings from Taicang to Japan, Korea and Taiwan to 20 per week by year end. The two ports will work on developing Taicang into a near sea shipping hub.
In order to secure smooth operation of the cooperation, Shanghai and Taicang will cooperate on streamlining customs clearance for transshipments.
Shanghai International Port Group (SIPG) will hold 45 per cent's stake and Taicang 55 per cent in the joint venture company, Taicang Port SIPG Zhenghe Container Terminal Co Ltd. The company will operate two 50,000-tonne berths at Taicang's phase three terminal.
Shanghai will move the handling of transshipments to Yangshan terminal from its Waigaoqiao terminal to Taicang, a river port 60 kilometres up the Yangtze. The move is expected to lead to more transshipments from the neighbouring regions of Suzhou, Wuxi and Changzhou shipped on waterway instead of transported on road to Yangshan.
Shanghai will also move the handling of transshipments from upper and middle Yangtze River region like Chongqing and Wuhan to Yangshan. This will add about 600,000 TEU per year to Taicang's throughput.
The first fleet of eight barges for moving transshipments between Taicang and Yangshan will become operational in June.
Shanghai also aims to move its near-sea shipping services to Taicang and increase the sailings from Taicang to Japan, Korea and Taiwan to 20 per week by year end. The two ports will work on developing Taicang into a near sea shipping hub.
In order to secure smooth operation of the cooperation, Shanghai and Taicang will cooperate on streamlining customs clearance for transshipments.
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