Ningbo Port: Shipping hub in the making

Ningbo Port: Shipping hub in the making

Ningbo: Ningbo Port, one of China’s leading ports in terms of cargo throughput, is ramping up for a new round of growth.
Ningbo Port’s cargo throughput and container throughput exceeded 500m tons and 20m teu respectively for the year of 2014, a record high for the port, according to Xu Huajiang, president of Ningbo Port.
“Currently the port industry still has overcapacity problems. Ports in China should focus more on efficiency and quality of operations, and not throughput numbers,” Xu says.
Xu says the port is seeking new growth through developing new cargo resources in new regions.
“We are expanding our rail-sea intermodal service into the mid-west region of China and we have put our coal and iron ore focus on the Yangtze River,” Xu says.
“Our goal is to change our function from a simple transportation port to a trading and logistics port, and eventually become a shipping hub,” Xu says.
Ningbo Port is also seeking opportunities from the capital market. “We are exploring opportunities in market value management, merger and acquisitions, and the refinance business,” Xu reveals.
According to Xu, Ningbo Port is expected to replace Busan Port as the fifth largest container port for the year of 2014.  [15/01/15]

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