A new public warehouse of London Metal Exchange (LME) in the Port of Kaohsiung’s Free Trade Zone (FTZ), Taiwan, was put out to tender, and bids will be open in early May, stated Taiwan International Port (TIPC).
The lease tender for the public warehouse in the new Nanxing FTZ of Kaohsiung Port was launched at the beginning of April, announced the Port of Kaohsiung.
The tender targets LME-approved warehouse members, companies subcontracted to conduct LME business on behalf of these members, LME-approved manufacturers of nonferrous metals, and international firms with experience trading LME nonferrous metals.
There has been a significant rise in nonferrous metals business at the port since the approval by LME as an official nonferrous metals delivery port in June 2013. In 2014, nonferrous metals warehousing and transhipment volumes at the port were 61.44% and 34.99% higher year on year in terms of value and volume, respectively.
The current tender is anticipated to spur growth in the port’s LME business. Companies are encouraged to take full advantage of the port’s free trade zone incentives, and the port is looking to partner with these companies to make it a critical link and major hub for global LME business, as well as to reach its long-term goal of becoming a key centre of international trade logistics for East Asia.