Shanghai port acquires 25pc shares of Zeebrugge port

SHANGHAI International Port Group's (SIPG) has acquired 25 per cent shareholdings of Zeebrugge port, its initial step in the company's internationalisation programme.

"Our international strategy is crucial in our march towards becoming a leading port group in the world. We see there are risks in international investment, so we will hold a cautious attitude to internationalisation and therefore we are co-operating with partners to control risks [as in this case]," said SIPG secretary Jiang Haitao.

Following the new investment, he said SIPG was relocating Shanghai port management to Zeebrugge and that it would promote the exchange between the latter port and Shanghai, and assist to lift the business for both terminals, reported London's Containerisation International.

Commenting on the reports of overcapacity issues in China, Mr Jiang said: "As a whole, there's a structural capacity imbalance in the Chinese ports industry, while the situation differs from region to region. In Yangtze River Delta region, at the current stage, the capacity basically meets with its market demand."
(Source:www.schednet.com)