Qingdao Port Group has been granted permission to undertake a stock exchange listing to raise capital to expand capacity. The flotation will take place either on Shanghai''s A-share Market or abroad. Qingdao is already China''s third largest container port and the 14th largest overall in the world, but could enter the top ten once new capacity comes on line.
The Busan container port is the fifth largest in the world, handling 10.4 million TEUs (twenty-foot equivalent units) in 2003.
In 2003, the port reported total box throughput of 4.2m TEUs but saw traffic rise 14% in the first quarter to 1.14m TEUs.
