Zhuhai Port subsidiary plans to build 25 3500-ton class inland river multi-purpose vessels.

2019-05-24 09:00

On May 23, Zhuhai Port announced that its wholly-owned subsidiary, Zhuhai Port Shipping, plans to build 25 3,500-ton single-fuel inland multipurpose barges. These barges will primarily be used for the domestic transportation of containers and general cargo in the Xi Jiang River Basin. The total investment for this project is 212.5 million yuan.

Zhuhai Port Shipping, a key component of the company's port shipping services, primarily undertakes barge transportation and coastal shipping operations for containers and general cargo in Zhuhai Port. To quickly supplement its own transport capacity to meet existing business needs and further expand its port shipping business, Zhuhai Port Shipping plans to build 25 3,500-ton single-fuel inland multipurpose barges, mainly for the domestic transportation of containers and general cargo in the Xi Jiang River Basin.

The construction of 25 3,500-ton single-fuel inland multipurpose barges, with a unit cost of approximately 8.5 million yuan per barge, and a construction cycle of 12 months, with a construction period from 2019 to 2020. The newly built vessels will mainly be used for the domestic transportation of containers and general cargo in the Xi Jiang River Basin.

The total investment for the project is 212.5 million yuan, and the required funds will be obtained through the company's non-public offering of shares. The investment will be made through company investment and the provision of entrusted loans.

The Xi Jiang strategy is the foundation for the company's continued development. The Xi Jiang River Basin has a developed economy and abundant cargo sources. There is a huge market demand for bulk commodities such as grain and coal, providing good opportunities for the company to support and implement its port-shipping and river-sea intermodal transportation business layout.

The 25 3,500-ton inland multipurpose barges planned for construction will all be deployed on the routes in the Xi Jiang River Basin, from Gao Lan Port to the company's subsidiary wharves—Gui Ping Xin Long Wharf, Wuzhou Port, and Yunfu Port, etc. They will mainly transport containers, general cargo, and goods with special protection requirements (such as cement clinker, special steel, paper products, grain, etc.).

The implementation of this project will, on the one hand, help Zhuhai Port Shipping rapidly expand its transport capacity, optimize its transport structure, and promptly alleviate the current serious shortage of transport capacity in the Xi Jiang River Basin, meeting the needs of business development and improving the throughput of Zhuhai Gao Lan Port. On the other hand, it will help to cultivate and expand Zhuhai Port's own shipping fleet, building an integrated coastal and inland river transportation system with seagoing vessels, tugboats, and barges, achieving a virtuous cycle between port and shipping operations, and meeting the needs of Zhuhai Port's overall strategic development.

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