WASHINGTON: A USD415 million project is under way at the port of Guangzhou to widen the stretch of water linking its container terminals at Nansha to the main East-West shipping lanes. The project will allow larger vessels to travel the channel in both directions at the same time. After completion, the widening of the waterway it is expected to save around three hours in the time it takes container vessels to reach Nansha.
The project is one of a series of major infrastructure and facilities upgrades taking place at Nansha, as the Guangzhou Port Group gears up for a planned listing, once approval is given by the China Securities Regulatory Commission. Funds from the listing, which could take place as early as the first quarter of next year, will be used to accelerate the development and optimisation of port infrastructure and further increase the competitiveness of the port.
Guangzhou is currently the fastest growing container port in southern China. Year-to-date (YTD) throughput stood at 11.8 million teu at the end of August, up nearly 5.5% on the first eight months of 2015 and well ahead of the average throughput growth of 2.4% at China’s top eight container ports over the period. August year-over-year (y/y) throughput grew 7.5% to 1.57 million teu while y/y volumes at the other main Pearl River Delta (PRD) ports of Shenzhen and Hong Kong fell by 2.2% and 2.9% respectively, according to the latest figures from the Shanghai Shipping Exchange and the Hong Kong Maritime and Port Board.
According to the Guangzhou Port Group, foreign trade-related container throughput at the Nansha terminals grew by 5.9% to 2.31 million teu in the first half of the year. The third phase of Nansha International Container Terminals, which will take capacity to over six million teu, is set for completion by end of November. An advanced refrigerated warehouse is being constructed as part of the new development.
