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|  | | COSCO Pacific Takes a Stake in Euromax Terminal Development |
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¡¡¡¡COSCO Pacific Ltd said it has signed a memorandum of understanding with Kawasaki Kisen Kaisha, Ltd. (K-Line), Yang Ming Marine Transport Corporation (Yang Ming), Hanjin Shipping Company Ltd.(Hanjin) and Europe Container Terminals B.V. (ECT) to jointly develop and operate Euromax Terminal in Maasvlakte at the port of Rotterdam in the Netherlands.
¡¡¡¡ECT will hold a 51% stake in the joint venture while the other four parties will jointly hold a total of 49%, it said in a statement, noting that details of the cooperation will be subject to further negotiation.
¡¡¡¡Phase I of the Euromax Terminal, with an annual capacity of 2.3 million TEU, is expected to commence operations in 2008.
¡¡¡¡Link:Euromax Terminal is located at the port of Rotterdam, the busiest port in Europe and seventh-largest container port in the world. |
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