A joint venture focusing on multimodal transport is being established this month at the port of Shanghai, as part of efforts to increase transport efficiency and lower carbon emissions, according to a top company executive.
"Sea and rail transport should have played a greater role in container shipping. But it has grown slowly due to the insufficient railway network at Shanghai's major port area of Waigaoqiao and Yangshan. We expect to expand the ocean-rail transportation volume to 80,000 TEUs (twenty-foot equivalent unit) by the end of this year, and more than double this to 200,000 TEUs in 2020," said Yan Jun, president of Shanghai International Port Group (SIPG), a terminal operator.
SIPG will hold a 45-percent stake in the new joint venture, while China COSCO Shipping Corp Ltd will have 20 percent. The balance would be held by National Railway Administration and China Railway Container Transport Corp Ltd.
Source:chinadaily
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