Chinese Ports To Merge Operations

State-owned maritime and transport conglomerate China Merchants Group has signed a deal with Chinese provincial government to manage integrated operations at several Chinese ports, according to China Daily.
Provincial government will join with China Merchants Group to create a platform to operate integrated ports under a cooperation agreement signed on Saturday, June 10, 2017. 
It sets up a group called Liaoning Port Group to integrate operations at several coastal ports in Liaoning Province.
While the ports involved are not confirmed, trading in shares of Dalian Port, Yingkou Port and Jinzhou Port had ceased on June 12, 2017.
Earlier reports said Liaoning province was looking into building a port cluster coordinating the ports of Dalian, Yingkou, Dandong, Jinzhou and Huludao.
CMA group said: “In the light of Cooperation Agreement, CMG will work with Liaoning Province in terms of port logistics, region development, financial services and investment, highways and smart transportation, health industry and etc.. CMG will join hands with Shenyang Municipality in the construction of free trade zone, modern logistics, industrial park, city development and financial services innovation.”
China Merchants Group through its companies is focussed on providing logistics services, toll road enterprises, banking, as well as operating an oil tanker and bulk carrier fleet.
US East Coast ports, inundated with new traffic coming via the expanded Panama Canal, have made similar moves recently. The Georgia Ports Authority (GPA) and the Virginia Port Authority (VPA) on the East Coast have gained federal approval for a proposed integration agreement.