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Maersk signs Tianjin container terminal deal

published: cw 23, 2006 in Mergers & acquisitions

Danish shipping and oil group A.P. Moeller-Maersk has signed a contract for the development of three container terminal berths in Tianjin China.

The project is in Tianjin’s North Port and will feature three berths with a total quay length of 1,100 meters and water depth of 15.5 meters, Maersk said in a statement.

The design capacity of the terminal is 1.7 million 20-foot equivalent units (TEU) and the total investment is 3.6 billion yuan ($449.3 million), Maersk said.

Tianjin Port Group holds a 40 percent share in the terminal, while Maersk and Cosco Pacific , hold 30 percent each.

Source: Reuters


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