8.3 C
Tuesday, November 24, 2020
Home News Zhonggu Logistics takes stake in Dongguan terminal

Zhonggu Logistics takes stake in Dongguan terminal

Zhonggu Logistics, an affiliate of China's largest domestic liner operator Zhonggu Shipping Group, has purchased a 49% stake in Dongguan Container Terminal.

The company announced on 14 October 2020 that it had bought the share from Singapore-based terminal operator PSA International, without disclosing the price. Dongguan Port Group continues to own the remaining 51% stake in the terminal in Dongguan in China’s Guangdong province.

Zhonggu Logistics explained that the purchase will boost its partnership with Dongguan Port Group and deepen its ties with PSA International.

Located on the east coast of the Pearl River, surrounded by Guangzhou, Dongguan, Shenzhen, and Hong Kong, Dongguan Port caters to an export-oriented economy. The port has two container berths with a combined annual handling capacity of 1.7 million TEU.

In 2019, Dongguan Port’s container throughput exceeded its capacity, hitting 4 million TEU, ranking third among Guangdong’s coastal ports and 12th among coastal ports in China.

Martina Li
Asia Correspondent

- Advertisment -Port Montreal advertisment
- Advertisment - LR Sustainability Decarbonisation Digital Adverts

Latest Posts

Abu Dhabi Ports strikes a couple of digital deals

Abu Dhabi Ports has proceeded with a couple of agreements aiming to accelerate its digital transformation and improve the efficiency of its operations and...

Surge in charter rates is driving SnP market

Hardening charter rates are pushing second-hand asset values upwards as carriers look to acquire suitable tonnage before the prices peak. Some liner companies may consider...

CEVA boosts CMA CGM’s Q3 results

CMA CGM Group has attained improved shipping activity in the third quarter compared to the previous year's Q3, according to the company's chairman and...

CNC Line and X-Press Feeders in mutual slot purchases

CMA CGM's intra-Asia arm Cheng Lie Navigation (CNC Line) and Singapore-based feeder operator X-Press Feeders have entered into a mutual slot exchange on their...

Sea Swift to commence direct Australia-Singapore link

The Australian shipping company, Sea Swift has announced the launch of its new international shipping service in December, connecting the Pilbara in Western Australia...

We have introduced a voluntary registration system which will help us to understand our customers better and offer them an improved service.

From 1 January, 2021 registration will be required but news content access will remain free of charge.