COSCO Ports Limited (CP Tianjin) has entered into a merger agreement with Tianjin Port Holdings, China Merchants International Terminals, Tianjin Port Container Terminal (TCT), Tianjin Five Continents International Container Terminal (FICT) and Tianjin Orient Container Terminals (TOCT).
Under this agreement TCT, as the surviving entity, will absorb and merge with FICT and TOCT and will succeed all assets, business, credits, debts and employees of FICT and TOCT upon completion of the merger.
The merger is expected to help strengthen each party, optimise the allocation of resources, enhance the unified management of the relevant terminals, lower operational costs and increase the overall competitiveness of TCT and enhance its efficiency.
The three facilities already operate under the same terminal operating system (TOS) – Navis’ N4 – as part of a plan to consolidate and integrate all of Tianjin’s container operations under one system launched in 2018.
On completion of the successful go-lives across its terminals, Tianjin became the largest container terminal complex to use N4.
Previously, the port’s facilities had operated on three different TOSs and six different versions that created operational challenges such as a lack of shared resources and uniform technical architecture across terminals, siloed information and risks to data security and integrity.