"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "

Chinese premier Wen Jiabao 12th March 2009

""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."

Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Tuesday, December 23, 2008

Chinese increase Amsterdam port facilities

Hutchison Port Holdings (HPH), is a wholly owned a subsidiary of the Hong Kong (China) ultinational conglomerate Hutchison Whampoa Limited (HWL), They have interest in 50 ports, including Rotterdam and Felixstowe and in 26 countries throughout Asia, the Middle East, Africa, Europe, the Americas and Australasia (see complete list). HPH also owns a number of transportation-related service companies. In 2007, the HPH Group handled a combined throughput of 66.3 million (20 fooe container equivalent) TEU's worldwide. Last year trade rose 4 per cent in the first half to 32.8 million TEU, increasing revenue by 10 % more revenue to hit HK$19.5 billion. (US$2.13 Bn.)

Hutchison Port Holdings (HPH) have signed an agreement with Nippon Yusen Kabushiki Kaisha (NYK) in a share swap and HPH will become the majority shareholder of Amsterdam-based Ceres Container Terminals Europe B.V. (CTE) in the Netherlands. In exchange for the majority stake in CTE, NYK will have a minority stake in Europe Container Terminals (ECT) in Rotterdam.

Commenting on the agreement, John Meredith, Group Managing Director of HPH, said, "The investment in CTE will help strengthen HPH's presence in Northern Europe through the addition of extra container-handling capacity. CTE's strategic location allows it to attract deep-sea and feeder traffic as well as inland traffic."

CTE consist of 2 wholly owned subsidiaries, Ceres Paragon Terminals (CPT)(see pic) and Ceres Amsterdam Marine Terminals (CAMT).

CAMT is a Ro-Ro terminal that performs stevedoring activities for automobile carriers and has a number of warehouses for the storage of cocoa.

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