Greater ChinaPorts and Logistics

Cosco Shipping Ports buys into Guangxi container terminal

Cosco Shipping Ports has announced that subsidiary China Shipping Terminal Development has proposed to acquire a 26% equity interest in Guangxi Beibu Gulf Terminal, through the injection of its entire 40% equity interest in Guangxi Qinzhou Terminal into the latter and a cash consideration of RMB486.8m ($71.9m).

Guangxi Beibu Gulf Terminal manages four container berths of the container terminal in Qinzhou Port while Guangxi Qinzhou Terminal operates another two container berths at the port.

Upon completion of the deal, Cosco Shipping Ports will become the second largest shareholder of Guangxi Beibu Gulf Terminal.

Cosco said the proposed investment is in line with its strategy of enhancing control over terminal assets, and the company believes the terminal will benefit from the promotion of the Western New Land and Marine Routes strategy by the central government.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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