Ever­green lo­gis­tics unit badly dam­aged by Tian­jin ex­plo­sions

The China Post - - LOCAL -

A lo­gis­tics sub­sidiary of Ever­green Group ( ), a Tai­wan­based ship­ping con­glom­er­ate, has been badly dam­aged by the deadly ex­plo­sions in Tian­jin, a busy port city in north­ern China.

Ever­green said that the work­ing area of its lo­gis­tics unit — King­trans In­ter­na­tional Lo­gis­tics (Tian­jin) Co. ( ) — has suf­fered ex­ten­sive dam­ages due to the ex­plo­sions which took place Wed­nes­day night in the Tian­jin Bin­hai New Area, which is lo­cated on the coast of the Bo­hai Sea, east of Tian­jin's main ur­ban area, and part of the Bo­hai Eco­nomic Rim.

The group said that since the Tian­jin lo­gis­tics unit is lo­cated only 500 me­ters from the cen­ter of the ex­plo­sions, the blasts have dealt a big blow to its sub­sidiary.

Media re­ported the ex­plo­sions have caused mas­sive lo­gis­ti­cal hur­dles in the port city to get cargo to go through. The blasts killed at least 85 peo­ple, with more than 700 in­jured.

Ever­green said that as the port area has been closed by Tian­jin author­i­ties for in­ves­ti­ga­tions into the cause of the blasts and no per­son­nel of King­trans are al­lowed to en­ter, it is hard at this mo­ment to as­sess the fi­nan­cial losses of the sub­sidiary re­sult­ing from the in­ci­dent.

The blasts in­jured 13 Chi­nese em­ploy­ees of King­trans and two of them suf­fered se­ri­ous but not lifethreat­en­ing in­juries, the group said.

Ever­green said that since the author­i­ties of the Tian­jin port have re­sumed ter­mi­nal oper­a­tions from 1 p.m. Fri­day to al­low cargo load­ing and un­load­ing, King­trans has reached a con­sen­sus with its coun­ter­parts in the port area to as­sist the com­pany in its lo­gis­tics oper­a­tions in a bid to ful­fill its obli­ga­tions to its cus­tomers.

Sources from Tian­jin fa­mil­iar with the sit­u­a­tion said that King­trans could in­cur tens of mil­lions of Chi­nese yuan in fi­nan­cial losses caused by the ex­plo­sions as the plant and ship­ping con­tain­ers it owns have been al­most com­pletely de­stroyed.

King­trans was es­tab­lished in 2007 with an in­vest­ment of about 250 mil­lion Chi­nese yuan ( US$ 39.06 mil­lion), sta­tis­tics showed. The com­pany is one of large-sized lo­gis­tics op­er­a­tors in Tian­jin. The sources said that King­trans's oper­a­tions are un­likely to fully re­sume in six to eight months af­ter the ex­plo­sions.

Newspapers in English

Newspapers from Taiwan

© PressReader. All rights reserved.