COSCO, HPH Terminal Deal in Hong Kong

Hongkong International Terminals Limited (HIT), COSCO-HIT Terminals (Hong Kong) Limited (CHT), and Asia Container Terminals Limited (ACT) have entered into a formal collaboration for the co-management and operation of 16 berths across Terminals 4, 6, 7, 8 and 9 at Kwai Tsing, New Territories, Hong Kong.

The revenue and expenses from the management and operation of the facilities of the Combined Terminals will be allocated among the parties by reference to the respective designed capacity of the facilities owned by each party. One management team will be responsible for the terminals’ day-to-day operations. This new strategic arrangement would create additional capacity by increasing flexibility in berth and yard planning among all three terminals.

HIT owns 12 berths in Terminals 4, 6, 7 and 9 while CHT and ACT own 2 berths each in Terminal 8 East and Terminal 8 West respectively.