Yingkou mulls Euro­pean bids

China Daily (USA) - - BUSINESS - ByWUYONGin Bei­jing and LIU CE in Shenyang Con­tact the writ­ers at wuy­ong@chi­nadaily.com.cn and li­uce@chi­nadaily.

Shang­hai-listed Yingkou Port Co Ltd is mov­ing to in­vest in Euro­pean trans­porta­tion com­pa­nies and is de­ter­mined to seek a big­ger share in the China-Euro­pean Union lo­gis­tics mar­ket, its chair­man said.

Chair­man LiHezhong told China Daily that the com­pany has pre­pared to in­vest bil­lions of yuan in bid­ding for one “key rail­way ter­mi­nal” in Europe. But, he de­clined to re­veal spe­cific names of the tar­get com­pa­nies.

Yingkou Port is one of the coun­try’s ma­jor hubs linking China and Europe, with six di­rect in­ter­na­tional cargo train ser­vices opened since the cen­tral gov­ern­ment launched the Belt and Road Ini­tia­tive.

“We share a great ge­o­graphic ad­van­tage as the hub that con­nects both sea ship­ping and rail,” said Li.

“And this new Sino-EU bridge helps us ex­tend trade ties with­Rus­sia, the Repub­lic of Korea, Mon­go­lia and Euro­pean coun­tries on the route of the Belt and Road Ini­tia­tive,” he added.

Sources in the com­pany said that its in­ter­na­tional trans­porta­tion busi­ness in­creased 30.7 per­cent to reach 13,906 twenty-foot equiv­a­lent units in the first half of 2016.

“The Sino-EU cargo train ser­vice saves up to 30 days (tran­sit) and $10,000 per TEU, which makes it very at­trac­tive for cus­tomers,” ac­cord­ing toMeng Yi, a man­ager from the port’s in­ter­na­tional cargo train busi­ness of­fice.

The com­pany started the first cargo train last year, car­ry­ing mainly elec­tronic prod­ucts from the Repub­lic of Korea, which went through Rus­sia and Ukraine be­fore reach­ing Slo­vakia in 15 days.

“Yingkou Port’s cargo rail­way ser­vice of­fers an­other trans­port op­tion to what was con­trolled­by­ship­pin­gandair flights in the past. It has el­bowed into the lo­gis­tics mar­ket with low cost but rather high speed,” saidWang Jinyou, man­ager­fromTian­jin Cargo Train Lian­jie In­ter­na­tional Lo­gis­tics Co Ltd.

In­dus­try in­sid­ers said that the tra­di­tional Sino-EU cargo ser­vice would take around 45 days by land­ing at Ger­many’s Ham­burg Port first and then ship­ping to other in­land cities in Europe.

Quick and ef­fec­tive co­op­er­a­tion with the Rus­sian rail­way net­work was re­spon­si­ble for the suc­cess of Yingkou Port, they said.

Yingkou Port Co Ltd’s in­ter­na­tional trans­porta­tion busi­ness in­crease in the first half of 2016

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