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News

New shipping channel benefits Nantong terminal

27 April 2011
Jiangsu Maritime Safety Authorities approved the newly completed approach channel at Nantong Yangkou terminal on 20 April. The shipping channel, 18.6km long and 450 metres wide, will allow two vessels of 100,000 dwt to pass at the same time or one LNG vessel with a capacity of 267,000 cubic metres. The project cost just over Rmb17m.

Nantong has a total shore line of 369km, of which only 166km is on the Yangtze, with the remaining 200km along the coast. Most of Nantong’s terminals are on the riverbank. Yangkou terminal is one of the two major terminals that the local government wants to develop along the coast.

In March this year PYI Corp, a Hong Kong listed infrastructure developer, sold a 50.1 per cent stake in the terminal for US$229m to invest in a container terminal in Suzhou, reducing its holding to just 9.9 per cent. Back in 2009, it sold 15 per cent for US$46m to reduce debts and increase working capital. Both tranches were sold to commercial arms of the local government.

     
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