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|  | | CMA CGM, Tianjin Port, Asia International Shipping Ltd cooperate on container terminal |
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¡¡¡¡August 21st, the signing ceremony for constructing the Container Terminal Berth 8 to 10 in the north pool of Tianjin Port was held in Tanggu. The project is jointly funded by Tianjin Port Co., Ltd., Terminal Link Tianjin Limited - a wholly owned subsidiary of CMA, Hong Kong-based Asia International Shipping Co., Ltd., the total investment is approx. RMB 4.2 billion.
¡¡¡¡Sited inside the north pool, the berths are to link the northern end of container terminal 7 in the south. The three new 70,000 to 100,000-ton container berths are designed with an entire shoreline stretching 1,100 m, an annual handling capacity at 1.7 million TEUs. Currently, the designed water depth is 15.5 meters at the frontline, while will be 18 meters in the long run. Making the best of the advantages of Tianjin Port, this project will continuously improve the port's comprehensive competitiveness, further consolidate its status as a container hub, and assure to speed up building an international shipping centre as well as an international logistics center.
¡¡¡¡It is reported that the three parties will jointly set up a Tianjin Port Shenghua International Container Terminals Co., Ltd. for terminal operations and management, in which Tianjin Port Co., Ltd. will hold 60 % of the equity, Terminal Link Tianjin Limited and Hong Kong-based Asia International Shipping Co., Ltd., a 20% for each. The contract will run 50 years.
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