NYK Joins Car Terminal Operation at Shanghai Port
November 28, 2002
Nippon Yusen Kaisha (NYK Line) has signed a letter of intent with the Shanghai Port Authority and Shanghai Automotive Industry Sales Corporation to contribute to the capitalization of a new company that will operate an exclusive terminal handling finished cars, now under construction in the Waigaoqiao free trade zone in Shanghai Port.
Shanghai Automotive Industry Sales Corporation is responsible for car sales on behalf of the Shanghai Automotive Group.
The signing ceremony, held in the hall of the Shanghai Port Authority on Thursday, November 28, was attended by NYK Executive Vice President Kazuhira Kamiya, Director General Lu Haihu of the Shanghai Port Authority and General Manager Ye Yong Ming of Shanghai Automotive Industry Sales Corporation.
The new facility will be the first terminal in China dedicated to the handling of finished cars shipped by sea. NYK intends to apply its knowhow in car terminal operations, acquired through its participation in similar projects in other parts of Asia, to the operation of the Shanghai car terminal.
- Purpose
- To meet the intermodal transport needs of Chinese automakers by participating in the operation of an exclusive terminal for finished cars in Shanghai. The terminal will play a key role in the transport of cars, and supplement the "NYKCOS" (NYKCOS Car Carrier Company Limited), a joint venture established by NYK and China's COSCO Shipping Co., Ltd. for the seaborne transport of finished cars.
- To lay the groundwork for participation for full-fledged involvement in the automobile logistics business (domestic transport and export/import transport), which is certain to grow rapidly in the near future.
- Details of the Terminal
Location :Waigaoqiao free trade zone (adjacent to the Waigaoqiao Container Terminal) in Shanghai Port Quay length : 219 meters Yard area : 300,000 square meters (approx. 400 meters x 700 meters) Start of operations: June 2003 - Outline of Terminal Operation Company
| Name | : |
Shanghai International Auto Logistics Terminal Company Limited |
| Investors | : |
Shanghai Port Authority (44%) Shanghai Automotive Industry Sales Corporation (51%) NYK (5%) |
| Total investment | : | 500 million yuan (Yen 7,500 million) (NYK's stake: 25 million yuan (Yen 375 million)) |
Duration of joint venture |
: | 48 years |
| Main lines of business | : | ro/ro handling of cars, bonded warehousing, distribution/dispatching, etc. |