China has agreed to reduce its stake in a proposed deep-sea port in Rakhine State in Myanmar to 70% amid local concerns about Beijing’s growing economic power in the country, a senior government official has said.
China Merchants Port Holdings (CMPort) is set to acquire a 90% stake in Terminal de Contêineres de Paranaguá (TCP) from the Brazilian terminal’s founding shareholders and global private equity company Advent International.
Cargo throughput at key world ports saw a year-on-year increase of 6.8% in Q2 2017, a significant improvement compared with the growth of Q2 2016, and maintained the rising trend of Q1 2017, Shanghai International Shipping Institute said.
The cabinet of Sri Lanka has cleared a revised deal for its Chinese-built port of Hambantota following public anger towards terms of the first pact.
Sri Lanka’s government is seeking to reduce China Merchant Port Holdings’ stake in a strategic port project by up to a quarter as part of a renegotiation aimed at addressing public and political opposition to the deal, Reuters has reported.
For China Merchants Port Holdings Company Limited (CMPort), focusing on homebase port development and overseas expansion helped to bump container throughput up by 14.5% (95.77 million teu) in 2016.
The global GDP in Q3 of 2016 has increased by 2.8% quarter on quarter, according to a newly published report from the Shanghai International Shipping Institute.
Global shipping consultancy, Drewry, says as the sector is being faced with the dual challenges of weaker demand growth and rising costs due to larger vessels and alliances, terminal operators are looking to consolidate terminal ownership.
China Merchants will join two other companies in the final stage of the bidding process for the 50-year lease of the Port of Melbourne.
China Merchants Holdings (International) Company’s overseas terminals set a record in container handling in 2015 with throughput of 16.05m teu.
China Merchants Holdings has acquired a 50% stake in Thesar Maritime, giving it a 35-year concession to operate and develop a container terminal in Lome, Togo.
Cosco Pacific is investing in Turkish ports after forming a joint venture with China Merchants Holdings International (CMHI) and CIC Capital for the acquisition of equity interests in Fina Liman and Kumport.
Tanzania has laid down its claim for a future large slice of regional trade through a deal with China to build the new port of Bagamoyo in its Mbegani area, north west of Dar es Salaam, at a total cost of $10bn.
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