Singamas prepares for WTO boom with Dalian stake

Container terminal operator Singamas Container Holdings has paid US$600,000 for a 30 per cent stake in Dalian International Container Service.

Singamas president and chief executive Teo Siong-seng said the joint venture would allow the company to tap an expected boom in northern mainland trade after Beijing enters the World Trade Organisation.

'Dalian is the port with the most potential in northern China,' Mr Teo said.

The Dalian depot, with a capacity of 4,000 teu (20-foot equivalent units), had recorded monthly throughput of more than 3,000 teu so far this year, 20 per cent up from the same period last year, he said.

Mr Teo said the leading mainland seaports had registered between 30 per cent and 40 per cent year-on-year growth in the first quarter of this year, during what is normally the most quiet time for the industry.

'A lot of shipping will come directly to Chinese ports after the mainland's WTO accession,' Mr Teo said.