Yantian International Container Terminal (YICT), one of China's busiest container ports with an annual handling volume of more than 13 million twenty-foot equivalent units (TEU)
stringent disinfection and quarantine measures since May 21 when the virus was discovered among port staff has resulted in more than 40 container ships were anchored in open water outside the terminal . Waiting for cargoes loading and unloading . Demand outstripped supply .
Recently expanded YICT has become a critical gateway into China with around 100 vessels calling weekly, 60% of which operate on European and U.S. routes, according to a recent note from the regional Shenzen government.
EXPANSION IMPERATIVE TO COPE WITH RISING DEMAND AND BUSINESS
BUSINESS IS BOOMING AS HUTCHISON PORT SEEK TO EXPAND YANTIAN EAST PORT WITH JV
The trustee-manager of Hutchinson Port Holdings Trust (HPH Trust) has entered into a joint venture agreement (JVA) with Shenzhen Yantian Port Group Company on June 1. The agreement was signed by HPH Trust’s 79.45%-owned indirect subsidiary, Hutchinson Ports Yantian Limited. Under the JVA, HPH Trust will establish a 50-50 joint venture (JV) with Shenzhen Yantian.
HONG KONG • Hong Kong is looking forward to commencing formal dialogues on its accession to the Regional Comprehensive Economic Partnership (RCEP) when the partnership is ready to take on new members, a government official said last Saturday.
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