Three shipping giants are planning to move containers via northern Tianjin
city's Dongjiang Bonded Harbor Area, which aims to become an international free
trade zone, local authorities have revealed.
Sweden's Mediterranean
Shipping Company, French Compagnie Maritime d' Affretement, and Korean Hanjin
Shipping, three of the top ten, signed an agreement with Tianjin Port on
Wednesday, hoping to take advantage of free economic policies granted to the
mainland's largest bonded harbor area.
The 10-square-kilometer area of
Tianjin Port is expected to be operational by the end of this year. It will
enjoy preferential taxation and foreign exchange policies and focus on
international distribution, global procurement and export processing, said Yu
Rumin, president of the Tianjin Port (Group) Co. Ltd.
Tianjin Port, the
largest of its kind in north China, aims to put through 270 million tons of
freight traffic in 2007 as the city's Binhai New Area starts to take off. It
also hopes to reach 7 million 20-foot equivalent units (TEUs) of container
turnover, Yu said.
The port recorded cargo throughput of 258 million tons
last year, ranking sixth in the world, and container turnover reached 5.95
million TEUs.
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