The China’s third largest port operator, Dalian Port Co Ltd expects to complete its initial public offering on the Shanghai Stock Exchange within the first half of 2010, Sun Hong, the Chairman of Dalian Port Co Ltd said.

The company was listed in Hong Kong in 2006 which means it will become China’s first port with a dual listing.

And also the Dalian Port is the biggest port operator in Bohai Bay which Read more…

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capital, China, Dalian, economy, Hong Kong, port, Shanghai

Shanghai International Port (Group) Co, who operates the world’s second-busiest container harbor, said profit rose 23 percent last year as China’s trade growth boosted demand for sea transportation.

Net income rises to 3.64 billion yuan, or 0.17 yuan a share, from 2.97 billion yuan, or 0.14 yuan, a year earlier, announced by the company in a Shanghai Stock Exchange statement yesterday. Sales climbed to 16.3 billion yuan, up 27 percent.

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China, container, harbor, port, Shanghai

With its throughput expected to grow 15 percent this year, Shanghai may overtake Singapore as the largest container port of the world. In 2008, boosted by Yangshan port’s third-phase expansion, throughput will exceed 30 million TEUs, said Chen Shuyuan, president of Shanghai International Port Group Co (SIPG), operator of China’s busiest container port.

Shanghai surpassed Hong Kong for the first time to be the second largest container port in 2007, behind Singapore. Its container volume reached 26.15 million TEUs last year, taking 20 percent growth. Singapore remains the largest container port in the world.

SIPG also intends to invest around 4.5 billion yuan in expansion—2 billion yuan will be spent on adding berths. But investment in the Yangshan project in excluded. Although no “concrete plans”, an overseas listing is also considered.

According to Read more…

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China, overtake, port, Shanghai, Singapore

As Qingdao port transforms itself into a hi-tech, third-generation facility, it has ambitious plans to become the shipping hub of northeast Asia, though it is already the largest dock for iron ore in the world.

According to Chang Dechuan, chairman and president of Qingdao Port (Group) Co Ltd, now the port is growing at its fastest point. Its throughput in the first quarter of this year was more than 75 million tons, a 15 percent increase than the same period of last year. The throughput of the port Read more…

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China, hub, port, Qingdao, shipping

Superstar Virgo, one of the largest luxury liners in the Star Cruises fleet that measures 76,800 gross tons with 935 guest rooms able to accommodate 1,870 passengers, has received over 700 bookings for its planned maiden cruise via east China’s Xiamen City on May 8.

It is the first luxury liner to take tourists from China’s mainland directly to international waters. Before this, mainland tourists who want to take ocean-going cruises have to go to luxury cruise terminals in Hong Kong or Singapore.

Making its first call at Xiamen on the eastern coast of Fujian province on April 11 with over 1,600 overseas tourists from Hong Kong, Taiwan, Japan, the Republic of Korea, Canada, Singapore and Australia, Superstar Virgo will altogether make 25 regular calls at Xiamen at 1 p.m every Thursday and return to Hong Kong at 10 p.m on the same day till October.

Wu Mingfa, marketing manager of Star Cruises, said that Xiamen is an ideal port for international luxury liners to tap the huge market potential across China’s mainland, Hong Kong and Macao special administrative regions as well as Taiwan.

The World Cruise Shipping Industry predicts the number of cruise passengers in Asia will rise 40% from 1.07 million in 2005 to 1.5 million in 2010, which is made possible in part by Asia’s growing affluence and improved flight options to regional port cities.

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China, luxury liner, port, Superstar Virgo, Xiamen