HONG Kong's Hutchison Port Holdings (HPH) and Cosco Shipping Ports Ltd. have signed an agreement for the "efficient co-management and operation" of 16 berths across Terminals 4, 6, 7, 8 and 9 (together the "Combined Terminals") at Kwai Tsing in Kwai Chung in the New Territories.
The 16 berths comprise: 12 owned by Hongkong International Terminals Limited (HIT) in Terminals 4,6,7 and 9; and two each from Cosco-HIT Terminals (Hong Kong) Limited (CHT) and Asia Container Terminals Limited (ACT) at Terminal 8 East and Terminal 8 West respectively.
The collaboration will "allow for the most effective use of facilities and manpower resources," according to a statement from HIT. "Efficiency will also be enhanced under the new set-up as one management team will be responsible for the terminals' day-to-day operations."
The statement also pointed out that the strategic arrangement would create additional capacity by increasing flexibility in berth and yard planning among all three terminals.
"This timely improvement will allow the Combined Terminals to better accommodate the need of shipping alliances for enhanced service and increase the overall competitiveness.
"This forward-looking move will help sustain Hong Kong's position as a leading transshipment hub in the region."
Furthermore, the companies said revenues and expenses from the management and operation of the facilities of the Combined Terminals will be allocated among the parties by reference to the respective designed capacity of the facilities owned by each party.
Source: SchednetPrevious Next