DP World places US$343 million crane order with Zhenhua

DUBAI Port World is purchasing 87 sets of container cranes for US$343 million from port machinery supplier, Shanghai Zhenhua.

The cranes are to be delivered between 2009 and the first quarter of 2010, according to a company statement filed with the Shanghai Stock Exchange.

The deal comes amid plans by international container terminal operator DP World to build 10 more piers over the next few years, with 13 berths currently under construction, reports the China Daily.

It added that this is the latest bumper order from DP World after it purchased cranes worth $735 million from Zhenhua, the world's largest port machinery supplier with a 78 per cent global market share, between 2003 and 2007.

Source: Schednet