Port of Qinhuangdao IPO application was submitted

The Chinese port of Qinhuangdao filed in the Securities Commission in China an application for publishing Class A shares. The port is planning an initial public offering to finance building of new terminal. Also the funds raised from the IPO of Port of Qinhuangdao will be used for introduction of new technologies, purchase of marine equipment, working capital and the payment of bank loans. The port of Qinhuangdao IPO is planning to create new more modern terminal with higher capacity to handle the increased cargo traffic in Asia. Currently Qinhuangdao is the largest port in China for coal handling, as in 2014 the total turnover of the port amounted to 382.09 million tons, which represent 4.69% growth. The coal handling also increased with 0.81% to 245.79 million tonnes, while the transshipment of iron ore grew with 11.75% to 108.99 million tons.

The Chinese port of Qinhuangdao is located on 300 km from the Beijing on Bohai Sea, the innermost gulf of the Yellow Sea. Qinhuangdao is the nation’s coal shipping center which is also seen as a barometer of the economy. The daily transport capacity is about 50 vessels per day, but with new terminal the capacity will be improved. The new coal terminal will be built to accept operations of the largest coal and ore carriers with large depth and modern technology for fast cargo handling.