COSCO Shipping Ports, PSA International, NYK Line & Port of Dalian signs Dalian Container Terminal JV Contract

Posted by Daily Shipping Times on 22-08-2017        Tweet

BEIJING : The Dalian Port Container Terminal Equity Integration and Dalian Container Terminal Joint Venture Contact Signing Ceremony was held at Bangchui Island Hotel, Dalian on August 10. A contract was signed by representatives of Port of Dalian, COSCO Shipping Ports, PSA International Pte Ltd and NYK Line. Mr. Tan Zuojun, Member of the Standing Committee of the CPC Liaoning Provincial Committee and Secretary of the CPC Dalian Municipal Committee, Mr. Xiao Shengfeng, Deputy Secretary of the CPC Dalian Municipal Committee and Mayor of Dalian, Capt. Xu Lirong, Chairman of the Board and Party Secretary of COSCO Shipping, Mr. Tan Chong Meng, Group CEO of PSA International Pte Ltd (PSA), and Mr. Zhang Luming, General Manager of North China, NYK Line (China) Co., Ltd. were also present at the event.

To meet its development needs, Port of Dalian decided to integrate its three container terminals in the form of equity integration after consulting with all its shareholders. As the subject of this integration, Dalian Container Terminal Co., Ltd. (DCT) will consolidate all the assets, liabilities, equity and businesses of Dalian Port Container Terminal Co., Ltd. (DPCM) and Dalian International Container Terminal Co., Ltd. (DICT). COSCO SHIPPING Ports will hold a 19% stake of DCT after integration.

Through integration, the container terminal resources on the South bank of Dayao Bay, Dalian Port will be managed and operated in a uniform manner to better satisfy the comprehensive service needs of ultra large container ships. This move is of great significance to expediting the transformation of industrial outlooks, optimizing port services and building a new model of opening-up in Dalian.

Prior to the signing ceremony, Capt. Xu Lirong paid a special visit to Mr. Tan Zuojun and held talks with Mr. Tan Chong Meng. Capt. Xu congratulated on the signing of the contract and pointed out that COSCO Shipping will continue to support the building of Dalian into an international shipping center in Northeast Asia, to actively expand its shipping, port and equipment manufacturing businesses in the city, and to strengthen cooperation with Dalian, Port of Dalian and other stakeholders to achieve a win-win outcome.

Mr. Wang Yuhang, Executive Vice President of COSCO Shipping, Mr. Han Jun, Assistant to the President of COSCO Shipping and President of COSCO Shipping Logistics, Heads of the Group’s relevant divisions, and executives of COSCO SHIPPING Lines, COSCO Shipping Ports and COSCO Shipping Energy Transportation also attended the events.