APM invests in Shanghai port

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Last updated at: (Beijing Time) Friday, December 05, 2003

APM invests in Shanghai port

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A dock company jointly invested by A.P.Moller-Maersk Group (APM), a global leader within ocean transportation and logistics service and Shanghai International Port Croup (SIPC), was established Thursday.

The company, called Shanghai East Container Terminal, runs a dock at Shanghai Port, the largest on the Chinese mainland, and SIPC holds 51 percent of the company's shares.

With four berths, the dock covers an area of 1.55 million square meters and is expected to become the largest container dockon the Chinese mainland, with an annual handling capacity of more than 3 million standard containers, said Jess Soderberg, APM chiefexecutive.

The dock began trial operation in February and the annual handling capacity is expected to exceed 1 million standard containers.

Shanghai port has handled more than 10 million standard containers so far this year, and the handling capacity for 2003 isexpected to exceed 11 million to record an increase of 2 million on the previous year, which will make it the third largest container port in the world, according to port authorities.

The port is now building more docks for container ships, targeting an expected handling capacity of 25.4 million in 2020.

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