Chinese, Danish firms to run Shanghai's biggest container terminal

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 ◆ Chinese, Danish firms to run Shanghai's biggest container terminal

A joint venture between Molier Group of Denmark and Shanghai Port was launched recently to run the biggest container terminal in Shanghai, the leading shipping and industrial center in China.

The joint venture, Shanghai Hudong Container Terminal Management Co., Ltd., has a registered capital of 15 million yuan (1.82 million US dollars) and is 51 percent owned by Shanghai Port and 49 percent by Molier Group.

The terminal project will be completed by the end of this year and become operational early next year.

With four berths for container carriers, the terminal will be 1,250 meters in length and 1.63 million square meters in area. It has a design handling capacity of 1.8 million TEUs (twenty-foot equivalent units) a year.

Shanghai Port, the biggest in China, has recorded a two-digit annual growth rate in the number of containers it handled in the last decades. It is expected the port would handle 8.2 million to 8.4 million TEUs this year.

Molier Group is involved in the management of more than 30 container ports around the world.