Terminal and Logistics Park Built by COSCO SHIPPING Ports in Wuhan



      On January 16, the signing ceremony of the Wuhan Yangluo terminal and rail-water intermodal transport project and the inauguration ceremony of COSCO SHIPPING Ports (Wuhan) Co., Ltd. was co-hosted by COSCO SHIPPING and the Wuhan Municipal Government in Wuhan International Convention & Exhibition Center. With an investment of about RMB 2 billion, the rail-water intermodal transport project is expected to start construction in 2018 and be completed by the end of 2019, generating an estimated annual throughput of over 800,000 TEU. This event marked that COSCO SHIPPING was officially involved in terminal and logistics park construction in Wuhan.
 

The project is a win-win outcome for COSCO SHIPPING Ports Limited affiliated to COSCO SHIPPIING and Wuhan Iron and Steel Group Logistics Co., Ltd., a subsidiary of China Baowu Steel Group. On July 19, 2017, COSCO SHIPPING and the Wuhan Municipal Government concluded a strategic cooperation framework agreement on the construction of Yangluo rail-water intermodal transport center. At the end of 2017, OSCO SHIPPING Ports acquired a 70% stake in Wuhan Yangluo Jiutong Port Co., Ltd., an affiliate of Wuhan Iron and Steel Group Logistics Co., Ltd. COSCO SHIPPING Ports (Wuhan) Co., Ltd., a joint venture, was established to operate the project.

Covering an area of more than 700 mu (466,667 square meters), the project is located in the Yangluo port area (north of the Yangtze River) of China Baowu Steel Group. Yangluo terminal boasts marked advantages in hydrological and shoreline conditions, hinterland resources, development space and supporting railway infrastructure. By means of terminal transformation, rail-water intermodal transport construction and logistics park development, COSCO SHIPPING Ports and Wuhan Iron and Steel Group Logistics will build the terminal area into a modern logistics distribution center integrating terminal, container transportation, logistics, warehouses, storage yards, CFS and rail-water intermodal transport center. The Yangluo Port currently has three operation areas (three-phase terminals) with a throughput of 2 million TEU. In 2017, the three-phase terminals had transported 1.26 million TEU in total.

Upon completion of the Yangluo terminal project, the port will be capable of handling 2.8 million TEU, ranking No. 1 among China’s inland ports. In addition, in order to transform Yangluo terminal and the rear logistics project into a more convenient, accessible and multi-functional logistics hub and to enhance overall advantages, the two companies will step up cooperation with China Railway Corporation by incorporating the terminal into the overall rail-water intermodal transport plan of the local government and building the rear railway line and railway freight station.
 

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