SIGP reports higher H1 profit
NewsShanghai International Port Group (SIGP) reported a 23.1% year-on-year increase in revenue for the first half of 2024 and a 14.8% increase in net profit.
The port, previously a coal and ore terminal, has been transformed into a fully automated container terminal.
Shanghai’s Luojing Container Terminal has officially commenced operations, the terminal’s operator Shanghai International Port Group (SIPG) announced.
The terminal, repurposed from iron and coal handling to container operations, is designed to handle domestic container traffic on the Yangtze River and features one 100,000-tonne and four 10,000-tonne container berths. Construction, began in December 2022 and the first 1,000m of quay have now been official opened.
The terminal, part of Shanghai’s major port upgrade, features automation with remote-controlled quay cranes and autonomous intelligent vehicles (AIVs) for horizontal transport. SIGP said that all berths of the terminal are equipped with shore-based power supply, and that a shore-based power supply agreement has been signed with relevant shipping companies.
The terminal also reflects China’s drive to develop its own port automation technology. It includes a domestically developed intelligent operation control system called “NEO-TOS”, which uses AI, big data, and IoT to manage quay cranes, rail cranes, and autonomous vehicles.
All of the quay and yard cranes were supplied by ZPMC. This includes seven STS cranes with an outreach of 55m on a 30m rail gauge, and seven smaller units with a 30m outreach and a 16m rail gauge. For the yard, ZPMC delivered a total of 31 ASCs. Twenty units have a span of 37m while the other 11 have a smaller span of 34m.
The planned annual capacity of the first phase is 2.6m TEU per annum. The opening ceremony held on August 7, also marked the launching of the second phase, which will add another 1.4m TEU of capacity. At full build out the terminal is expected to have a total capacity of 6m TEU.