SITC won a terminal concession at the port in 2005, and both it and NOL’s liner shipping arm, APL, will contribute substantial container volumes to the new terminal once it is operational. The two companies will now proceed with detailed planning and engineering work.
Qingdao is China’s third busiest container port and is strategically located near the southern entry to Bohai Bay. It is already an important hub for APL’s liner and feeder shipping services. NOL Group currently operates seven terminals globally – four on the US West Coast, two in Japan and one in Taiwan – and also has joint ventures in Thailand and Vietnam.
“This is a significant step forward in extending our container terminal business. We are very pleased to have entered into this partnership with SITC to develop a terminal in a location that will be the future hub for our northern China operations,” said NOL Group president and CEO Thomas Held.