Shekou Container Terminals merges all three terminals to provide integrated services to lines
China Merchants Holdings (International) Company Limited (CMHI) and global marine terminal operator DP World have reached an agreement that will see DP World sell its minority holding.
Along with another minority shareholder, in two of the Shekou Container Terminals in Shekou, Shenzhen, PRC to CMHI enabling the three terminal facilities in the port to merge into a single container terminal, named Mega SCT.
This forms a part of the consolidation of the three terminals, which sit side by side. CMHI
previously owned 50% of Shekou Container Terminal 1, 51% of Shekou Container Terminal 2 and 100% of the adjoining Shekou Container Terminal 3. The transaction provides potential for rationalization amongst Shekou Container Terminals 1, 2 and 3.
DP World acquired the holdings in the Shekou Container Terminals as part of the acquisition of
P&O earlier this year.
The sale will realise HK$1,782m in cash (US$228.5m).
DP World Senior Vice President and Managing Director Asia Pacific Peter Wong said,
‘Customers will see no change in the level of service they receive at Shekou. Like DP World,
CMHI is committed to providing shipping lines with top quality services aimed at improving supply chain efficiency’.
‘This adjustment rebalances our China portfolio in line with our strategic vision. We will re-invest the proceeds into assets that fit our long term plan to meet customer needs in the region going forward.’
Closure is expected in first quarter 2007 after approval is given by CMHI shareholders.
