Tuesday, November 7, 2017

China and Abu Dhabi Expanding Trade and Freight with New Container Port

Ground Breaking Ceremony Held and New Agreements Reached
Shipping News Feature
ABU DHABI – CHINA – Chinese shipping line and port operator Cosco has held a ground breaking ceremony for the new Abu Dhabi Container Terminal during a high-level event at Khalifa Port. The ceremony was presided over by Dr Sultan Ahmed Al Jaber, Minister of State and Chairman of Abu Dhabi Ports and Ning Jizhe, Deputy Director of China's National Development and Reform Commission (NDRC) who witnessed the unveiling of a plaque as well as the signing ceremony.

A new agreement between Cosco and Abu Dhabi Ports PJSC was also signed during the ceremony for development of what the pair claim will be the largest container freight station in the region. The new container freight terminal is designed to provide Abu Dhabi trade with a state of the art facility offering bonded LCL/FCL consolidation and de-consolidation services, cross stuffing, cargo weight reduction, short term warehousing for deconsolidated cargo as well as easy connectivity with the container terminals in Khalifa Port. Speaking at the ceremony Dr Sultan Ahmed Al Jaber said:

“Following the guidance and vision of the leadership, Abu Dhabi Ports has played an important role in expanding trading links between the UAE and China, which is now the UAE’s second largest trading partner. The partnership between Abu Dhabi Ports and Cosco Shipping Ports to develop the region’s largest container freight station will add a new dimension to UAE/China trade relations and is fully aligned with Abu Dhabi’s Vision 2030 to drive growth, attract investment, support economic diversification and create sustainable jobs.”

The new agreement between the two companies means that Khalifa expects to soon be handling some 6 million TEUs per annum as the port aims to become the primary trade hub on the Arabian peninsula. Capt. Xu Lirong, Chairman of Cosco Shipping commented:

"China and UAE's growing relationship in recent years has created favourable environment and conditions for the cooperation between the two countries in the port and shipping industries. Khalifa Port is an important gateway in Abu Dhabi, an important hub in the Middle East, and a major focal point for 'Belt and Road’, thus plays a significant role in the shipping industry.

”The signing of the agreement on [the] CSP Abu Dhabi CFS project will further strengthen the services of the terminal and enhance the trade cooperation between the two countries. Port business is the core resources of Cosco Shipping, it is the foundation and strategic support of our global network. The stable development of the port business will bring mutual benefits to our shipping business and other business in upstream and downstream. "