Liaoning to set up integrated port operating platform

A worker repairs the shipping containers at Port of Dalian on Sept 10, 2013 in Dalian of Liaoning province.[Photo/VCG]

Trading in shares of Dalian Port, Yingkou Port and Jinzhou Port was suspended on Monday morning. Later, the three companies all issued similar statements, saying Liaoning provincial government and China Merchants Group have signed port cooperation framework agreement.

According to the agreement signed on Saturday, Liaoning provincial government and China Merchants Group will join hands to build a unified port operating platform. Based on Dalian Port Co Ltd and Yingkou Port Group Corp, a new Liaoning Port Group will be set up to realize integrated operation of coastal ports in Northeast China's Liaoning province.

The two sides plan to complete the establishment of Liaoning Port Group and mixed ownership reform by the end of this year, as well as integration of other ports' business entity by the end of 2018.

Media earlier reported that Liaoning province has put effort to build a port cluster which put Dalian port in the center, Yingkou, Dandong, Jinzhou and Huludao ports on the wings to realize cooperation meanwhile complement each other with advantages.

Zheshang Securities analyst Han Jun told the newspaper that port resource integration will be a big event this year.

The Ministry of Transport Spokesman Wu Chungeng said at a press conference in March that the ministry plans to boost port supply-side reform by optimizing port layout and promoting resource integration.

Dalian port, a major container port in Northeast China, owns more than 100 container trade lines in the country and overseas. Last year, cargo throughput of Dalian Port reached 355 million tons, up 5.5 percent from a year ago.