Pearl River transshipment business expanded
January 13, 2011 Category Inland river transport, Logistics
China Merchants Holdings (International) and Chu Kong Shipping Development are teaming up to develop a Pearl River transshipment business to benefit from Guangdong’s low-carbon policies over the next five years. Deep-sea-terminal operator China Merchants has agreed to invest HKD131 million in the Chu Kong River Trade Terminal company, a subsidiary of Chu Kong, in exchange for a 20% stake in the company that operates 10 feeder ports along the Pearl River. Factories in the western Pearl River Delta could save 20% of transportation costs, up to CNY1,000 per TEU, by using barges instead of trucks to transport cargo to the sea ports for export. Emission cuts are another advantage of barges over trucks. “One barge can deliver about 100 TEU and replace at least 50 trucks on the road,” Chu Kong Shipping Chairman Hua Honglin said.
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