Cosco Pacific lifts interest in Yantian Terminals

Cosco Pacific has paid HK$4.05 billion for a 13.7 per cent interest in a holding company of Yantian Terminals in Shenzhen from Maersk Group, the largest liner company in the world. The port operator agreed to increase its effective interest in Sigma Enterprises to 20.55 per cent which holds a 73 per cent stake in Yantian Terminal phases I and II and a 65 per cent stake in phases III and IV. The transaction is set to be completed by July. Shenzhen port was the world's fourth-busiest in 2009, handling 18.3 million 20 foot boxes, with 47 per cent of the throughput from Yantian. In the first quarter, Yantian's throughput volume increased 18.4 per cent year on year.