01/01/0001
Qingdao Multi-Purpose Terminal JV
The APM Terminals Global Terminal Network will enter China’s fast growing grain import market as part of a joint venture with Qingdao Port International, continuing APM Terminals’ ongoing expansion into port and terminal operations beyond containerized cargo handling. The newly developed Qingdao Port Dongjiakou Multi-Purpose Terminal, in which APM Terminals will hold a 20% share, is located on China’s Bohai Rim in the Shandong province, on the Yellow Sea.
The Port of Qingdao is one of the world’s busiest ports, ranking seventh globally, handling a total of 468 million metric tons in 2014. Qingdao’s new Dongjiakou Port area is set to become a national hub of Chinese bulk and energy cargoes, with a projected volume of more than 300 million metric tons handled annually in this new complex. The Qingdao port handled approximately 7 million metric tons of grain cargo in 2014, with another year of strong growth in 2015. In 2013, China imported around 63.4 million metric tons of soybeans, along with 14 million metric tons of corn, wheat and rice. Soybean imports, primarily from the USA and Brazil represent more than 80% of Chinese annual domestic demand.
The Qingdao Port Dongjiakou Multi-Purpose Terminal, operated by Qingdao Port International and APM Terminals, will serve China’s rising demand for grain and other general cargo, and will enable improved port logistics service to interior commercial and industrial markets. APM Terminals’ Chinese presence includes interests in nine operating terminals in six ports, with a seventh facility currently in development at the port of Ningbo. APM Terminals is currently a shareholder with Qingdao Port International in five container terminals in the Qianwan section of Qingdao Port. APM Terminals operates grain handling facilities in Callao, Peru, and Poti, Georgia.
Senior representatives of Qingdao Port Group also met with APM Terminals executives in The Hague to sign a Memorandum of Understanding (MOU) for the APM Terminals Vado, Italy port project. The MOU called for the creation of a new joint venture to invest in, and work with, other potential partners.
The Port of Qingdao is one of the world’s busiest ports, ranking seventh globally, handling a total of 468 million metric tons in 2014. Qingdao’s new Dongjiakou Port area is set to become a national hub of Chinese bulk and energy cargoes, with a projected volume of more than 300 million metric tons handled annually in this new complex. The Qingdao port handled approximately 7 million metric tons of grain cargo in 2014, with another year of strong growth in 2015. In 2013, China imported around 63.4 million metric tons of soybeans, along with 14 million metric tons of corn, wheat and rice. Soybean imports, primarily from the USA and Brazil represent more than 80% of Chinese annual domestic demand.
The Qingdao Port Dongjiakou Multi-Purpose Terminal, operated by Qingdao Port International and APM Terminals, will serve China’s rising demand for grain and other general cargo, and will enable improved port logistics service to interior commercial and industrial markets. APM Terminals’ Chinese presence includes interests in nine operating terminals in six ports, with a seventh facility currently in development at the port of Ningbo. APM Terminals is currently a shareholder with Qingdao Port International in five container terminals in the Qianwan section of Qingdao Port. APM Terminals operates grain handling facilities in Callao, Peru, and Poti, Georgia.
Senior representatives of Qingdao Port Group also met with APM Terminals executives in The Hague to sign a Memorandum of Understanding (MOU) for the APM Terminals Vado, Italy port project. The MOU called for the creation of a new joint venture to invest in, and work with, other potential partners.