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PSA International invests in Chinese Yangtze rail container terminal network
PSA International has invested in China United International Rail Containers Co (CUIRC) in an effort to boost its sea-rail intermodal operations.
CUIRC is a Sino-foreign joint venture with a mandate from the Chinese government to develop and operate 18 railway container terminals within the country.
PSA said in a statement that it is currently the only global terminal operator with a shareholding in CUIRC made possible by its acquisition of Hong Kong-based Luck Glory International Ltd, which owns a 15.33 per cent stake in CUIRC.
The inland railway container terminals are located at regional economic centres across China to form the core of the nation's intermodal transportation network. Ten terminals are currently in operation located in Kunming, Chongqing, Chengdu, Zhengzhou, Wuhan, Xian, Dalian, Qingdao, Ningbo and Tianjin.
The deal also marks the PSA Group's first foray into China's railway container terminal facilities and extends its network in China beyond its 11 coastal container terminals in Dalian, Fuzhou, Guangzhou, Tianjin, Dongguan, Lianyungang and Guangxi Beibuwan (Qinzhou).
Said PSA International CEO Tan Chong Meng: "The CUIRC project is a game changer for PSA and fits into our overall strategy for China. With our current presence in major China gateway ports, PSA is well-positioned to develop synergies with CUIRC to grow integrated sea-rail intermodal operations across the world's second largest economy."
Today, China's railway container sector only carries two to three per cent of the country's seaport container volumes. The potential for further growth of China's railway container sector is supported by progressive railway reforms and China's ongoing initiatives such as 'One Belt One Road" and the 'Western Region Development Programme".
Aside from PSA, other joint venture partners in CUIRC include China Railway Container Transport Corp, NWS Holdings Ltd, China International Marine Containers (Group) Ltd, and Deutsche Bahn Mobility Logistics AG.
CUIRC is a Sino-foreign joint venture with a mandate from the Chinese government to develop and operate 18 railway container terminals within the country.
PSA said in a statement that it is currently the only global terminal operator with a shareholding in CUIRC made possible by its acquisition of Hong Kong-based Luck Glory International Ltd, which owns a 15.33 per cent stake in CUIRC.
The inland railway container terminals are located at regional economic centres across China to form the core of the nation's intermodal transportation network. Ten terminals are currently in operation located in Kunming, Chongqing, Chengdu, Zhengzhou, Wuhan, Xian, Dalian, Qingdao, Ningbo and Tianjin.
The deal also marks the PSA Group's first foray into China's railway container terminal facilities and extends its network in China beyond its 11 coastal container terminals in Dalian, Fuzhou, Guangzhou, Tianjin, Dongguan, Lianyungang and Guangxi Beibuwan (Qinzhou).
Said PSA International CEO Tan Chong Meng: "The CUIRC project is a game changer for PSA and fits into our overall strategy for China. With our current presence in major China gateway ports, PSA is well-positioned to develop synergies with CUIRC to grow integrated sea-rail intermodal operations across the world's second largest economy."
Today, China's railway container sector only carries two to three per cent of the country's seaport container volumes. The potential for further growth of China's railway container sector is supported by progressive railway reforms and China's ongoing initiatives such as 'One Belt One Road" and the 'Western Region Development Programme".
Aside from PSA, other joint venture partners in CUIRC include China Railway Container Transport Corp, NWS Holdings Ltd, China International Marine Containers (Group) Ltd, and Deutsche Bahn Mobility Logistics AG.
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