NYK to set up JV to establish container terminal in Dalian

12/12/2006 10:50:03 AM

NYK, Dalian Port authorities and China Shipping Terminal Development Co. have signed a Memorandum of Understanding to establish a joint venture to develop and operate a new container terminal at the third phase of the Dalian Dayao Bay Terminal. A statement from NYK said that the parties involved in the project are still holding talks to finalise details regarding the construction of the new terminal, which is yet to receive official approval from the relevant authorities in China. This new development comes after the NYK group successfully participated in an IPO for Dalian Port (PDA) Company, the majority shareholder of Dalian Port Container Company in April to become the second largest shareholder with a holding of about four per cent. NYK said it also jointly runs a ro-ro terminal with Dalian Port Corporation that began operations in July in Dayao Bay. Asian Shipper News

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