Three Chinese Container Terminals to Merge

Tianjin Port Container Terminal will remain as the surviving entity of the merger, absorbing Tianjin Five Continents International Container Terminal and Tianjin Orient International Container Terminal.

COSCO Shipping Ports is a substantial shareholder of Tianjin Orient and Tianjin Five Continents, while China Shipping Terminal and China Merchants are substantial shareholders of Tianjin Five Continents.

Upon completion of the merger, the group will hold a 76.68% equity interest in the new Tianjin Port Container entity. The group anticipates reduced the operating costs, coordinated operational resources, unification of the service standard and enhanced the usage efficiency of terminals and depots.
The Port of Tianjin is the 10th busiest port in the world and the largest port in Northern China.

(MarEx)