Splash 247

Qinhuangdao Port and Tianjin Port integrate container terminal operations

Qinhuangdao Port and Tianjin Port integrate container terminal operations

Array
(
    [0] => WP_Term Object
        (
            [term_id] => 77
            [name] => Greater China
            [slug] => greater-china
            [term_group] => 0
            [term_taxonomy_id] => 77
            [taxonomy] => category
            [description] => Stay updated on what's going on in the Greater China by browsing the Greater China region news archive. Find the latest maritime and shipping news on Splash 24/7.

Get the updated list of the latest news about the Greater China region. Browse Splash 24/7 for more maritime and shipping news.

            [parent] => 55
            [count] => 5377
            [filter] => raw
            [cat_ID] => 77
            [category_count] => 5377
            [category_description] => Stay updated on what's going on in the Greater China by browsing the Greater China region news archive. Find the latest maritime and shipping news on Splash 24/7.

Get the updated list of the latest news about the Greater China region. Browse Splash 24/7 for more maritime and shipping news.

            [cat_name] => Greater China
            [category_nicename] => greater-china
            [category_parent] => 55
        )

    [1] => WP_Term Object
        (
            [term_id] => 64
            [name] => Ports and Logistics
            [slug] => ports-and-logistics
            [term_group] => 0
            [term_taxonomy_id] => 64
            [taxonomy] => category
            [description] => Stay updated on what's going on in the ports and logistics industry by browsing the ports and logistics news archive. Find the latest maritime and shipping news on Splash 24/7.

Find here the updated list of the latest news about ports and logistics. Browse Splash 24/7 for more maritime and shipping news.

            [parent] => 54
            [count] => 1255
            [filter] => raw
            [cat_ID] => 64
            [category_count] => 1255
            [category_description] => Stay updated on what's going on in the ports and logistics industry by browsing the ports and logistics news archive. Find the latest maritime and shipping news on Splash 24/7.

Find here the updated list of the latest news about ports and logistics. Browse Splash 24/7 for more maritime and shipping news.

            [cat_name] => Ports and Logistics
            [category_nicename] => ports-and-logistics
            [category_parent] => 54
        )

)

China’s Qinhuangdao Port has announced that its subsidiary Cangzhou Bohai has entered into an equity transfer agreement with Bohai Jinji, under which Cangzhou Bohai has agreed to transfer 90% equity interest in Cangzhou Bohai Jinji Container Terminal in Hebei to the latter for RMB559.57m ($81.36m).

Bohai Jinji is a joint venture between Qinhuangdao Port Group and Tianjin Port Group. Qinhuangdao Port said the transfer will accelerate the integration of the container business between the group and Tianjin Port Group, optimising location distribution and enhancing the efficient use of the two ports without constructing new berths for containers.

Qinhuangdao Port also expects the deal to help the group build a northern shipping centre together with Tianjin Port.

Under the central government’s Beijing-Tianjin-Hebei integration project, which aims to improve the region’s overall competitiveness, Tianjin Port has started various collaborations with neighboring ports in Hebei. In 2016, it also signed a framework agreement with Hebei Port Group to jointly develop and operate terminals.

China announced in April that it will establish a special economic zone in Hebei called Xiongan New Area, as part of advancing the coordinated development of the Beijing-Tianjin-Hebei region. The move is expected to help phase out some non-capital functions from Beijing, explore a new model of optimised development in densely populated areas, and restructure the urban layout in the region.

Share this article

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

Related Posts