CHINA's largest domestic liner operator Zhonggu Shipping Group's affiliate, Zhonggu Logistics, has purchased a 49 per cent stake in Dongguan Container Terminal from Singapore-based terminal operator PSA International, at an undisclosed price.
Dongguan Port Group continues to own the remaining 51 per cent stake in the terminal in Dongguan in China's Guangdong province.
Zhonggu Logistics explained that the purchase will boost its partnership with Dongguan Port Group and deepen its ties with PSA International.
Located on the east coast of the Pearl River, surrounded by Guangzhou, Dongguan, Shenzhen, and Hong Kong, Dongguan Port caters to an export-oriented economy. It has two container berths with a combined annual handling capacity of 1.7 million TEU.
In 2019, Dongguan Port's container throughput exceeded its capacity, hitting four million TEU, ranking third among Guangdong's coastal ports and 12th among coastal ports in China, reports UK's Container News.