Talks between Wharf Holdings' Modern Terminals (MTL) and Shekou Container Terminals (SCT) over MTL's planned takeover of the port's management from P&O Ports are still under way.
SCT general manager Chris Langford said: 'No agreement has been made by the two parties.' MTL, which is headed by managing director Eric Christensen, has been sending a team of Hong Kong managers to visit the port regularly over the past few weeks to work out details of the terminal management.
Mr Langford said the parties were still talking and hoped to reach an agreement soon.
A source said MTL, Hong Kong port's second-largest terminal operator, which had earlier considered taking an equity stake in SCT, had put it off temporarily due to the economic slowdown and Asian financial crisis.
MTL last year expressed an interest in taking a 20 to 25 per cent stake in Shekou from existing shareholders, who would have had to reduce their holdings to bring in MTL.
The deal would have strategic importance for MTL, because it would be able to use synergies between its Hong Kong and Shekou operations.