Cosco-HIT, the joint-venture terminal operation between Hutchison and China's biggest transport company, was a surprise third partner on Monday as the long-awaited OnePort maritime trade portal was unveiled. OnePort, a precedent-setting e-commerce collaboration between units of Hutchison Whampoa, the Wharf Group and the Hong Kong-listed arm of China Ocean Shipping Co (Cosco), is designed to streamline trade management activities at the port. Hutchison subsidiary HongKong International Terminals is the largest shareholder in the company, OnePort, with 50 per cent. Wharf's Modern Terminals Ltd (MTL) has taken 40 per cent and Cosco-HIT 10 per cent. Tradelink, the government's minority-owned company for the electronic submission of regulatory documents, is to take 10 per cent, with an option for an additional 5 per cent. Executives at OnePort declined yesterday to say when the private placement would take place, nor would they put a price on the value of the company. However, Tradelink's full investment is reportedly worth HK$50 million, putting OnePort's start-up capital in the HK$250 million to HK$300 million range. 'OnePort's mission is closely aligned with the goals of the government's Logistics [Development] Council initiatives,' MTL managing director Erick Bogh Christensen said. 'OnePort's collaboration with the trade and transport community will create value-added services for the community and a tangible competitive advantage for Hong Kong.' Initially, the portal will offer shippers and freight forwarders an alternative to carriers for electronically submitting manifest data to the United States Customs Service. Phase II of OnePort's service portfolio, scheduled for the third quarter, is to link Internet-based truckers to shippers, consignees and terminal operators for appointment bookings and shipment status queries. It will also offer paperless container exchange services at the terminals and will increase the scope of electronic document services to bills of lading and multimodal transport ordering for the nearly 12 million boxes which move over Kwai Chung's docks each year. CSX World Terminals opted not to invest in OnePort. 'We came to different conclusions about the commercial viability of OnePort,' a CSX spokesman said. 'It was a matter of risk versus return. There are similar systems providing similar services and those services usually add value rather than operate as something you charge for.' A OnePort spokesman said the services it would offer were what the industry said it needed. 'We spent the past 19 months consulting with those who will be its users and they told us these products and services are what they need,' he said.