NYK to Take Stake in Car Terminal at Dalian
September 8, 2003
Nippon Yusen Kaisha (NYK) has reached an agreement with Dalian Port Corporation Limited and COSCO Pacific Limited on the construction and operation of a dedicated terminal for completed automobiles at the Port of Dalian.
The agreement was signed on Wednesday, September 3 at the Hong Kong Convention and Exhibition Centre by NYK senior managing director Koji Miyahara of NYK, general manager Sun Hong of Dalian Port Corp., and deputy general manager Wang Zhi of COSCO Pacific.
The facility will be China' second completed automobile terminal, following the first one in Shanghai.
In operating this terminal, NYK will make the most of the know-how it has accumulated through the terminal business it does in other countries and regions of Asia.
- Purposes
- Details for the Terminal
- Details for the Terminal's Operator
The promotion of a dedicated terminal for finished cars at Dalian - together with the establishment of NYKCOS Car Carrier Co., Ltd., a joint venture with COSCO Shipping Co, Ltd. and an investment in Shanghai International Auto Terminal Co., Ltd. - will enable NYK to better meet Japanese and other automakers' needs for multimodal transport services in wider areas of China.
The new terminal will also another step in the physical distribution of completed automobiles in China, which is expected to grow rapidly in the future.
| Name (tentative) - | Dalian Automobile Terminal Co., Ltd.; |
| Investors - | Dalian Port Corp. (40 percent), NYK (30 percent) and COSCO Pacific (30 percent); |
| Total cost - | some 600 million yuan (Yen 9 billion), of which NYK invested some 180 million yuan (Yen 2.7 billion); |
| Launch of Business - | estimated for early 2006; |
| Length of operation as a joint venture - | |
| 50 years; | |
| Main Services - | handling car roll-on/roll-off (ro/ro) cargoes; providing bonded warehousing services and arranging logistics services. |