Baosteel, China Shipping consider Yantai Port stake

Yantai Port Group will invite Shanghai Baosteel Group Corporation, and China Shipping Group to participate in its restructuring, SinoCast

Situated on the northern shore of Shandong Peninsula, Yantai Port is very important in terms of geological locations. In 2007, its cargo throughput exceeded 100 million tonnes.

With total assets approaching US$1.5 million, Yantai Port Group is engaged in cargo loading and unloading, storage, transhipment, ship agency, ocean shipping tally, harbour engineering, and machinery manufacturing and repairing.

Because Yantai Port is operating both container terminals and terminals for general cargos and liquid bulk cargos, Baosteel Group joins the group to invest in the port's construction.

According to Yantai Port's planning, in 2010, its cargo throughput is to reach 105 million tonnes, container throughput three million TEUs; in 2020, cargo throughput will hit 215 million tonnes, container throughput 10 million TEUs.

Source: http://www.cargonewsasia.com