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|  | | QQCTN launched at Qingdao port |
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¡¡¡¡On Nov. 16, Qingdao Qianwan Container Terminal Co., Ltd. (QQCT) and Pan-Asia Shipping Lines (HK) Co., Ltd. signed an agreement for joint investment in the former¡¯s New Qianwan Container Terminal.
¡¡¡¡Through negotiation with QQCT shareholders, Qingdao Port (Group) Corporation, Dubai Global Terminal (Group) Corporation, COSCO and Maersk have formally agreed to co-launch Qingdao New Qianwan Container Terminal Co., Ltd. (QQCTN) with Pan-Asia Int¡¯l Shipping Lines, which will be put in total charge of the construction and operation of the 3,408m-long quay line along the southern shore of Qianwan basin.
¡¡¡¡Combined with the 3,400m of quay line along the northern shore, Qianwan basin claims more than 6.8km water front, which, when put into full operation, will be able to generate 14 million TEU of container goods per year.
¡¡¡¡According to the agreement, QQCTN will build ten container berths at Qianwan (including the four developed in the phase IV period, the four owned by Dubai Global Terminal (Group) Co., Ltd. and the two controlled by Pan-Asia Int¡¯l Shipping Lines), the deepest reaching to approximately 20 metres.
¡¡¡¡Planned investment in the whole project comes to US$ 1 billion, with QQCT taking 80%, and Pan-Asia Int¡¯l Shipping Lines 20% of the total shares.
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