China Shipping Group (CSG) signed an agreement Thursday with the American Marine Terminal Corp to jointly operate a dock company in the United States.
The CSG also signed a contract to rent the No. 100-102 dock at Los Angeles Port, indicating the start of the company's first overseas cooperation project in dock building, operating and managing.
The new dock company is named the New Century Terminal Services, Ltd., which will be jointly invested by the China Shipping Terminal Development (America) Co., Ltd and the American Marine Terminal Corp.
The construction on the rent dock will be completed by June 2004. With an area of 550,000 square meters, a 900-meter-long marine line and 16 meters in-water depth, the dock will have an annual throughput ability to handle 1 million TEUs and provide port services for shipping companies worldwide.