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SPG reports sound growth momentum in Q1

|chinadaily.com.cn |Updated: April 9, 2021
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Two container ships wait to unload at the Qingdao Port Fully Automated Container Terminal operated by SPG. [Photo/WeChat account: Shandong-Port]

Shandong Port Group – one of the biggest port operators in the world, based in Qingdao city in East China's Shandong province – recently delivered a strong set of financial results and container throughput figures for the first quarter of 2021.

SPG reported it handled over 370 million tons of cargo in Q1, up 9 percent year-on-year. Meanwhile, container throughput increased by 11 percent year-on-year to 7.93 million TEUs – twenty-foot equivalent units, the standard 20 foot container size – its highest level to date, underlining the robust quarterly performance.

Ports serve as hubs for maritime and land-based logistics and in order to boost its container business, SPG went to the city of Shanghai in the quarter. There it visited the headquarters of major shipping companies – to consolidate and extend commercial ties – and held its High-quality Container Business Seminar.

During the period, SPG stepped up its moves to develop an international shipping hub in Northeast Asia, with Qingdao Port as the front-runner, making concerted efforts to open and expand Belt and Road Initiative trade routes and premium cross-border e-commerce container express services.

The group is reportedly making efforts to strengthen a shift in transportation modes from bulk cargo to container traffic for domestic trade.

Landwards, SPG has striven to add further stations to its freight trains running through ports in Shandong, helping to build a distribution base for the China-Europe freight train.

It has also worked together with cities along the Yellow River basin to build a transshipment base for sea-rail intermodal transportation. Furthermore, greater efforts were made in Q1 to bolster  sea-river intermodal transportation, during which its role as a hub was expanded.

The company in its Q1 report said what was particularly noticeable in the period was that cooperation among sister ports was becoming closer. Qingdao Port, for example, strengthened its transshipment business with Bohai Bay Port and it helped Weifang Port to achieve new growth in transshipment volumes. Meanwhile, Rizhao Port visited the Anhui Provincial Port & Shipping Group with Qingdao Port, in a bid to jointly implement a strategic cooperation agreement that was signed earlier.

In addition, collaboration among port groups and business companies gained further momentum in Q1. Qingdao Port completed its first bulk export of urea by joining forces with the Logistics Group and it also implemented its first insurance business for liquid bulk cargo, together with Finance Holding Group.

Yantai Port joined hands with the Logistics Group to sign a strategic cooperation agreement with Anyang Logistics Park in Henan province.

Moving forwards, SPG plans to build upon the achievements made in the first quarter, in terms of its goal to create an international shipping hub in Northeast Asia.

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Two container ships wait to unload at the Qingdao Port Fully Automated Container Terminal operated by SPG. [Photo/WeChat account: Shandong-Port]

spg3_副本.jpgIron ore is shipped to an offloading facility run by Yantai Port Ore Terminal Co Ltd [Photo/WeChat account: Shandong-Port]

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Address
Shandong Port Building, No. 7 Gangji Road, Shibei district, Qingdao, Shandong province, China
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