Tianjin boxes up 5.3pc, plans to spend US$15 billion on port upgrade

TIANJIN Port Group Chairman Yu Rumin has revealed plans to invest CNY100 billion (US$15 billion) on upgrading its facilities in the upcoming five-year plan from 2011 to 2015.

The port will spend the money on raising its throughput capacity, deepening its sailing channels, increasing container cargo, cooperating closer with its inland port partners on intermodal service.

Port of Tianjin plans to become an international container hub for northeast Asia and have the largest bulk cargo hub in northern China.

From 2005 to 2010, Tianjin handled a total of 1.7 billion tonnes of cargo, twice of the volume in the period from 2000 to 2005, according to Xinhua.

In the first nine months of the year, Tianjin lifted 7.38 million TEU, up 5.3 per cent year on year. Its throughput surpassed 300 million tonnes. There were 24 new lines started calling at Tianjin in this period, eight of them are ocean shipping services.
(Source:www.schednet.com)