Dalian: Qingdao Port Group has started the operation of its new 400,000-tonne iron ore terminal at Dongjiakou port which is one of the largest iron ore terminals in the world.
The iron ore terminal has an annual capacity of 40 million tonnes and Dongjiakou becomes the first Chinese port that would officially have the technical capacity to receive Vale's huge bulkers.
“The terminal will further optimize Qingdao port’s industrial layout,” said Chang Dechuan, President of Qingdao Port Group.
“Shippers and steel plants will benefit from the terminal as it is likely to lower the iron ore price to a competitive level as the shipping cost is lowered,” Chang added.
Qingdao Port earlier announced plans to invest a total of RMB30bn in Dongjiakou port between 2011 and 2015, for developments in coal, oil and iron ore sectors. [11/03/13]
