Asian shipping giants take a slice of Euromax terminal

9/4/2008 10:13:51 AM

Cosco Pacific, "K" Line, Hanjin Shipping and Yang Ming have announced plans to invest in the new Euromax terminal located in Rotterdam's Maasvlakte area.   Each of the four partners will invest 12.5 per cent by the end of this year in Europe's biggest cargo hub, according to media reports, and the remaining equity interest in the terminal will be held by Europe Container Terminals.   The terminal, scheduled to open on September 5, is equipped with four berths and has an annual container handling capacity of 2.3 million TEU.   This comes amid reports that Cosco Pacific's deputy managing director Ken Chan has been saying the company would like to invest more overseas because international port projects only account for 11 per cent of Cosco's profits from ports. The remaining 89 per cent of port earnings is generated by its mainland China hubs where investment opportunities are said to be declining.   Asian Shipper

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