Modern Terminals signs Dalian box deal
Modern Terminals strengthened its focus on China’s burgeoning container terminals sector yesterday after signing a deal with Hong Kong-listed Dalian Port and Dalian municipality to develop terminals in the city’s Dayaowan north harbour, writes Keith Wallis in Hong Kong .
If the projects in Dalian go ahead it would become the third Chinese city, behind Shenzhen and Taicang, where Modern Terminals would have a presence.
Under yesterday’s pact, Modern Terminals and Dalian Port signed a framework agreement with Dalian municipality for strategic co-operation in the development of deepwater container terminals in the north harbour.
Modern Terminals spokeswoman Joel Cheung confirmed that the deal was signed but avoided giving further details about the scope of the agreement or details about the berths and terminals.
Dalian Port said it would work with Modern Terminals to take the leading role in developing the project, while Dalian municipality would provide the partners with “preferential treatment policies and support”.
The port company said: “Detailed terms of the proposed framework agreement are still subject to negotiation.”
The agreement covers the development of the middle section of the north shore area which has a total shoreline of 7 km split between the east, middle and west sections. The combined complex will have 21 container berths with a total annual handling capacity of 10m teu.
No details of when the first berths would be ready have been released.
The north harbour development will be built facing the existing south terminals where phase one has been jointly developed by Dalian Port and PSA International. These two partners are also investors in the second phase together with APM Terminals and Cosco.
Dalian Port is also planning to go ahead with Dayaowan Container Terminal phase three, involving construction of up to seven container berths on the south shore.
If the projects in Dalian go ahead it would become the third Chinese city, behind Shenzhen and Taicang, where Modern Terminals would have a presence.
Under yesterday’s pact, Modern Terminals and Dalian Port signed a framework agreement with Dalian municipality for strategic co-operation in the development of deepwater container terminals in the north harbour.
Modern Terminals spokeswoman Joel Cheung confirmed that the deal was signed but avoided giving further details about the scope of the agreement or details about the berths and terminals.
Dalian Port said it would work with Modern Terminals to take the leading role in developing the project, while Dalian municipality would provide the partners with “preferential treatment policies and support”.
The port company said: “Detailed terms of the proposed framework agreement are still subject to negotiation.”
The agreement covers the development of the middle section of the north shore area which has a total shoreline of 7 km split between the east, middle and west sections. The combined complex will have 21 container berths with a total annual handling capacity of 10m teu.
No details of when the first berths would be ready have been released.
The north harbour development will be built facing the existing south terminals where phase one has been jointly developed by Dalian Port and PSA International. These two partners are also investors in the second phase together with APM Terminals and Cosco.
Dalian Port is also planning to go ahead with Dayaowan Container Terminal phase three, involving construction of up to seven container berths on the south shore.
