Shanghai-listed Yingkou Port Liability plans to take over two products and chemical piers and rent other terminal assets at Yingkou port from its parent Yingkou Port Group.
The two products and chemical piers are located in the Bayuquan port area of Yingkou port, with capacity for 20,000 dwt vessels each and combined annual throughput of 2.44 million tonnes, according to a stock filing of Yingkou Port Liability on 22 April.
The two piers were built to meet the growing demand for handling products oil and liquid chemicals, and mitigate the deficit of handling capacity at Yingkou port.
In addition, the company will rent a pier under construction, a 3,000-tonne berth, a container pier, and three other piers at the old Yingkou port from its parent company from May to November. The old Yingkou port is a river port, located 53 km from Bayuquan port area.
A newly built pier with three general berths will also be rented at the Xianrendao port area of Yingkou port, which is located 17 km from Bayuquan port area and is still under construction.
The overall rent will total up to CNY9 million (USD1.5 million).
As of 31 December 2014, Yingkou Port Group owned 78.55% of Yingkou Port Liability.
Yingkou Port Liability said that the takeover and renting of the piers will help solve competition with its parent company.