News

21.11.2006

Eimskip signs a letter of intent regarding operations of China's largest cold store

Eimskip and Qingdao Port Group held a grand signing ceremony of Letter of Intent in the International Conference Center of Qingdao Port on a cold store project. According to the Letter of Intent, the two parties will jointly build China’s largest Mono-Unit coldstore, which will be located on Qingdao Port. The cold store will have a storage capacity of 50,000 tons, with future extension possibilities up to 100,000 tons.

Qingdao Port was chosen as the suitable landmark for the cold store due to the fact that the port is known as the largest export base for reefer containers, and has acquired nick names such as “The Port of hope in the 21st century” and “The One million ton port”. Qingdao Port is the third largest containerport in China with an estimated throughput of 220 million tons and 8 million TEU in 2006. In the first 10 months of 2006, there was a throughput of approximately 315.000 reefer TEU at Qingdao Port.

The location of the cold store has indubitable advantages for transporters as this is the first cold store to be built on the harbour area of Qingdao Port. The cold store is approximately 100 meters away from the vessel docking area and is therefore the ideal cold store for transporters working through Qingdao Port.

The cooperation between Eimskip and Qingdao Port Group will enhance the handling capacity of Qingdao Port even further and speed up the port’s growth regarding transportation of reefer goods. It is expected that Qingdao Port will gradually transform into being the biggest transit port in Asia.

Baldur Gudnason, CEO Eimskip:
“This is a very exciting project which supports Eimskips current operations in China. The building of the cold store is well under way and we expect to open in the first half of 2007. This is a big milestone for Eimskip and Qingdao Port Group. Up until now, the transportation of reefer goods in China has mainly been operated through other ports but now, Qingdao Port has the opportunity to become the largest distribution center for reefer goods in China. This is an important element in Eimskips vision to be a leading player in the global temperature-controlled cargo market and we have high expectations regarding the utilization of the cold store in regards to cargo transport between N-America and Asia”.