Hutchison Port Holdings (HPH) Trust is developing its Container Terminal 8 West to receive the new generation mega vessels, including the 19,000 teu vessels scheduled for delivery in November.
By investing in partnerships with COSCO Pacific and China Shipping Terminal Development Company (CSTD), the aim is to further develop the port into a long-term transshipment hub.
Hutchison Port Holdings (HPH) Trust is developing its Container Terminal 8 West to receive the new generation mega vessels, including the 19,000 teu vessels scheduled for delivery in November.
By investing in partnerships with COSCO Pacific and China Shipping Terminal Development Company (CSTD), the aim is to further develop the port into a long-term transshipment hub.
HPH Trust subsidiary Asia Container Terminals Holdings (ACT) and its group companies have received investment of more than HK$2 billion (over US$200 million) through the acquisition sale, to help develop ACT’s Container Terminal 8 West at Kwai Chung Port, Hong Kong.
HPH said in a stock market announcement that Cosco Pacific and CSTD had taken stakes of 40% and 20% respectively.
Located at Terminal 8 West in Hong Kong’s Kwai Tsing Port, ACT has two berths with a quay length of 740 metres and a depth alongside of 15.5 metres, with a total area of 29 hectares.
ACT is adjacent to COSCO-HIT (Hong Kong International Terminals) and together they have a combined 1,380 kilometre adjoining berth, which will enable the handling of several mega containerships simultaneously.
HPH bought ACT from joint owners PSA and DP World for nearly HK$4 billion (over US$500 million) a year ago.
COSCO has already worked in collaboration with HPH Trust on the development of the Container Terminal 8 East.
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