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Taipei port terminal expects to break even in 2010
2009/3/10
Taipei Port Container Terminal expects to break even in 2010 once its annual cargo volume rises to one million TEUs, Dow Jones reported.
"We originally planned to handle 750,000 TEU this year, but had to revise our target to 500,000 TEU because of the weak economy," company President Chen Hau-Gi said.
Taipei Port Container Terminal is a joint venture between Taiwan''s three largest container-shipping companies: Evergreen Marine, Yang Ming Marine Transport and Wan Hai Lines.
Evergreen Marine holds a 50 percent stake in Taipei Port Container, Wan Hai Lines holds a 40 percent stake, and Yang Ming Marine holds the remaining 10 percent.
In February, the joint venture started operating two container ship berths with an annual combined capacity of 1.1 million TEUs, which allow ships with a capacity of up to 12,000 TEU to berth.
Taipei Port Container will add two more berths next year, and by 2014, a total of seven berths will be in operation, allowing for total annual throughput of four million TEU.
Investment in the terminal is expected to total US$583.5 million, of which $402.2 million has already been spent, Chen said.
The terminal will initially handle cargo from its three shareholders, but aims to attract international shipping firms to add the port to their loops.
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2009/3/11