The Chinese port operator COSCO Shipping Ports has acquired a 4.34 per cent interest in the country’s Beibu Gulf Port for $68.5mn.
This paves the way for the company to participate in the integration of Guangxi ports.
At present, COSCO Shipping Ports has teamed up with Beibu Gulf Port in operating the Qinzhou International Container Terminal.
COSCO Shipping Ports said Beibu Gulf Port is the main gateway port in southwestern China and trade routes from the port cover major ports in ASEAN countries and connect more that 200 ports in over 100 countries and regions.
In the first nine months of last year, the total throughput of Beibu Gulf Port was around 13.48mn tons, and the container throughput rose significantly by 30.17 per cent year-on-year to 2,185,300 teu.