Singamas adds to its China depots

PUBLISHED : Tuesday, 14 January, 2003, 12:00am
UPDATED : Tuesday, 14 January, 2003, 12:00am

The world's No 2 container manufacturer, Singamas Container Holdings, plans to build a US$600,000 container depot in Fuzhou to tap the demand for boxes at the Fujian province port.

Wholly owned Singamas Terminals (China) will own and operate Fuzhou Singamas Warehousing and Trading.

It will hold 40 per cent, with the remainder belonging to Xiamen Superchain Logistics Development, in which Singamas has 6.83 per cent.

Singamas chairman Chang Yun-chung said extending its container depot network along the mainland coast had strengthened its competitiveness.

Singamas owns seven depots from Dalian to Shunde in the Pearl River Delta. The Fuzhou facility will be its second in Fujian province, after Xiamen.

The company's vice-president of finance, Sylvia Tam Shuk-ping, said: 'We always build depots when there is customer demand and we have depots at many major ports on the mainland.

'Fuzhou is not a big port, but we still see demand. We decided to build a depot, but it is not that big an investment.'

Fuzhou Singamas will be in the Fuzhou Bonded Area, less than a kilometre from Fuzhou Mawei Port.

Its 16,500 square metres can store 2,700 teu (20 ft equivalent unit) and provide a repair capability of about 30 containers a day. Ms Tam said it would be operational in the second half.

Singamas, which has bought assets worth more than US$25 million in the past year, is seen to be close to acquiring a greenfield site in the Baohai rim area to build a manufacturing plant.