PSA International acquires 49 per cent stake in Lianyungang Port’s container terminal

PSA International has acquired a 49 per cent stake in China Shipping Container Lines (CSCL) – a container terminal at Lianyungang port in the Jiangsu province. Of its total stake of 55 per cent in the port, CSCL has sold the remaining 6 per cent to the Lianyungang city government. The port terminal with a capacity of 2.8 million TEU will be managed by a JV of PSA International and the Lianyungang Port Group; it is expected to be commissioned in 2014. The container terminal has a quay length of 1,700 metres, super-post panamax quay cranes, and a draught of 16.5 metres. PSA International already operates 37 berths across seven terminals at five cities in China.