Yang Ming plans Taiwan terminal

Yang Ming will build a new 2.92-million-TEU container terminal in Taiwan’s Port of Kaohsiung and will buy $100 million in equipment for it from China in anticipation that the container industry will pick up by 2011.



Taiwan’s second-largest container line expects the four-berth terminal, a new development at the port complex, to expand its operations by 50 percent in Kaohsiung, Winsor Huang, the company's vice president of corporate planning, told Thomson Reuters.



In December Yang Ming signed deals for eight cranes and next month it will arrange to buy 22 more from Shanghai Zhenhua Port Machinery Co. to equip the terminal, Huang said.



The terminal will open in 2011 under a 50-year lease with an option to renew.



Huang said Yang Ming expects to be fully utilizing its current facilities in Kaohsiung by 2011, around the same time the new terminal will open.

Source: http://www.joc.com