Qinhuangdao Port ups stake in Huanghua bulk terminal in preparation for relocation

Qinhuangdao Port ups stake in Huanghua bulk terminal in preparation for relocation

Qinhuangdao Port, China’s largest coal port in terms of handling volume, has announced a plan to replenish RMB818.8m ($118m) into Cangzhou Huanghua Mineral Port Company, a bulk terminal operator at Huanghua Port.

Following the capital injection, Qinhuangdao Port’s shareholding in the terminal will be increased to 98.9% while its partner HBIS Group’s shareholding in the venture will be diluted to 1.1%.

The latest investment is believed to be part of Qinhuangdao Port’s efforts to prepare for the relocation of the port.

Earlier this year, Splash reported that the Hebei government is considering to transform Qinhuangdao Port into a container and cruise port as the central government aims to cut down coal consumption and promote clean energy. Qinhuangdao Port is said to be looking at other ports in Hebei including Caofeidian and Huanghua for a relocation.

This year, Qinhuangdao Port also increased its stake in Cangzhou Huanghua Port Crude Oil Stevedoring, the operator of a crude oil terminal under construction at Huanghua Port.

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