Home China Headline Crane giant wins deal

Crane giant wins deal

Shanghai Zhenhua Port Machinery Co, the world's biggest maker of container cranes, said yesterday it has won an order worth nearly US$200 million from Hanjin Shipping Co, the largest shipping line in South Korea. The 54 cranes will be put into operation at South Korea's Busan port, the world's fifth-busiest container port, Zhenhua said in a statement to the Shanghai Stock Exchange yesterday. The cranes will be delivered by next year, it said. Zhenhua, which holds more than 70 percent of the world's container crane market, is winning more orders as ports across the globe are expanding to tap robust trade demand. Hanjin Shipping, the eighth-biggest shipping line in the world, has been actively investing in container ports. The port of Busan is building 30 new berths and is also lowering fees to compete for cargo with rivals such as Shanghai, which plans to double its container capacity by 2010. Trackback(0) TrackBack URI for this entry Comments (0) Subscribe to this comment's feed Show/Hide comments Write comment Show/Hide comment form Name Email Website Title Comment Write the displayed characters Add Comment Copyright 2007. All Rights Reserved.

 

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