NOL invests in terminal at Port of Qingdao

Singpore-based NOL and PRC-based SITC International Holdings have formed a partnership with Qingdao Qianwan United Container Terminal Co to operate the Qingdao terminal.

NOL’s contribution to the joint venture is approximately US$25.8 million.

The joint venture partnership has a thirty-year concession at Qingdao.

Qingdao is China’s fifth-largest container port and the largest in the North. The new terminal will add 1.5 million TEU of annual capacity at Qingdao, and it will be equipped with efficient handling equipment including seven post-Panamax ship-to-shore cranes as well as sixteen rail-mounted yard gantry cranes.

According to NOL, its investment will ensure future access to terminal capacity as China’s trade growth accelerates. Construction on the terminal has been completed, and it will primarily serve vessels operated by APL and SITC.

APL currently operates marine terminals in Taiwan (Kaohsiung), Japan (Kobe and Yokohama), the US (Los Angeles and Oakland in California, Seattle in Washington and Dutch Harbor in Alaska).  NOL also has investments in terminals in Vietnam and Thailand, and in Rotterdam World Gateway – the first container terminal of the Maasvlakte 2 port development that is currently under construction.

In other news, NOL has reported a first quarter 2011 net loss of US$10 million, compared with a net loss of US$98 million in the prior year period.

Q1 2011 revenue was up 16% to US$2.4 billion, and core EBIT was US$13 million, compared with a loss of US$74 million in Q1 2010.

NOL’s Liner Shipping business, APL, reported Q1 2011 revenue of US$2.1 billion, up 15% year-on-year, and a Core EBIT loss of US$8 million compared with a loss of US$89 in Q1 2010.

NOL’s supply chain management business, APL Logistics, reported Q1 2001 revenue of US$368 million, up 24% year-on-year, and a Core EBIT of US$21 million – up 40%.

Quelle: eyefortransport
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