Improvements to Tianjin facilities fuel optimism in CSX camp

CSX World Terminals plans to expand its Asian operations and is considering raising funding through several options.

CSX World Terminals president and chief executive Robert Grassi said though the group was not planning an IPO, it was one of many options available.

Following a ceremony to mark its Tianjin joint-venture terminal's handling of its one millionth teu (20 ft equivalent unit) in Tianjin last week, Mr Grassi said: 'The group is confident in China's future, and in its economy which is growing rapidly,' he said.

The joint-venture Sea-Land Orient (Tianjin) Container Terminals (Slott) - operated by CSX World Terminals, the Port of Tianjin Authority and New World Infrastructure - controls four container berths at Tianjin port, with total berth length of 1,150 metres and water depth of 12 metres.

The joint venture started operations in January last year, and handled 461,129 teu last year. It expects to handle 730,000 teu this year.

Slott vice-president and general manager Richard Chang said with continued efforts on process improvement and heavy IT investment, Slott's productivity has nearly doubled from 19 moves to 30 moves per hour per share crane, a 58 per cent increase in one year.