China needs dry-bulk investment
Industry professionals have identified a problem with Chinese ports handling iron ore and coal imports. Perennial delays it is claimed, are harming economic growth.
Chairman Sultan Ahmad Bin Sulayem said: “The only valid bid for P&O is from DP World.
At Beilun, the second-largest ore port in China, delays can be anything between four and seven days, while Qingdao, China’s leading iron ore handling facility, averages delays of three days in berthing.
US$50bn has been earmarked for China’s port investment over the next five years.
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