Fuzhou Daijiang Minjiang Terminals

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Port of Singapore Authority (later renamed PSA Corp.) started operating the existing terminals Qingzhou and Taijiang at Fuzhou in May 1998. The joint-venture, Fuzhou Qingzhou Container Terminal (FQCT), was formally launched July 1998 and includes management and operation of the existing container terminals at Qingzhou and Taijing, as well as development and management of a new deep-water terminal outside the Min river. Other development plans for the port are reported to include the addition of 84 meters of wharf length in Qingzhou. PSA Corp. through their subsidiary, Sealion Hunnan, holds a 34.3% stake, Hong Kong-based company Ranki Development (7.35%) and Pacific Industries and Development Ltd (7.35%) make up the other partners in the joint venture along with the Fuzhou Port Authority (51%). For the whole of Fuzhou, container traffic was 225,000 TEU in 1997, a 30 per cent increase over 1996. Growth is expected to reach 500,000 TEU by the year 2000. Cargo throughput for 1997 reached 13,7 million tons, growth of almost 10% over 1996. Fuzhou is one of the two ports approved by the Chinese Central Government for cross-straits shipping between China and Taiwan. The relationship between PSA and FPA began in 1993, when CWT Distribution, a company associated with PSA, formed a joint venture with FPA to own and operate a container storage transportation and distribution center in Fuzhou. None None