Yantian International Container Terminals

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Yantian International Container Terminals (YICT) was established in 1994 as a joint venture between Shenzhen Yantian Port Holdings (27%) and Hutchison Port Yantian Investment Ltd. (73%). Shenzhen Yantian Port Holdings Limited (SYPHL) is a subsidiary of the state-owned Shenzhen Yantian Port Group Co., Ltd. (SYPGC) which issued shares in July 1997 on the Shenzen Stock Exchange. Hutchison Port Yantian Investment Ltd. issued shares in 1997. Total investment in the project is estimated at US$ 477.8 million. The construction of the second phase started in December 1996 to expand annual capacity to 1.2 mil 20-foot equivalent units per year. The first step is a single berth with an 18 hectare facility for container storage. Basic construction on the first berth has been completed. The water channel is also being dredged from a depth of 8 meters to 14 meters to provide access for the newest container ships. YICT took delivery of 12 rubber-tyred gantry cranes at the end of 1997 and announced the purchase of two new post-panamax quay cranes Hyundai Corporation and Hyundai Heavy Industries Co Ltd scheduled for delivery in October 1998 for the port's phase two facilities. Yantian International Container Terminals Ltd was one of southern China's busiest terminals for ocean-going ships and a world-class international container port. Yantian Port accepted an average 30 calls each month, servicing more than 10 major shipping companies. YICT had a annual throughput of 131.000 TEU (1996), 640.000 (1997) and 418.000 TEU in the first half of 1998. None None