Wuhan's Yangluo Port capacity to reach 150,000 TEU

CAPACITY of the Port of Yangluo in the middle reaches of the Yangtze of near the central city of Wuhan is expected to reach 150,000 TEU by the end of the year, according to an official from the local government quoted by Logistics Week.

The official said Yangluo's capacity will rise to 210,000 TEU by 2011 and surpass 260,000 TEU by 2020.

According to the development plan, the city has attracted CNY10 billion (US$1.4 billion) investment for the mega logistics park which covers an area of about 670 hectares and is expected to generate revenue between CNY20 - CNY30 billion.

In another deal, customs in Wuhan and Nanning recently signed a regional customs clearance co-operation memo to provide convenience for trade between Hubei and south east Asia via Nanning, Xinhua reported.

Under the agreement, Hubei companies can apply for customs clearance at Hubei customs and have their cargo to and from southeast Asia released at customs checkpoints under supervision of Nanning customs, which helps to reduce customs clearance time and cost, the report said.

Up till now, Wuhan customs has signed similar co-operation accords with 10 other customs authorities, including those in Qingdao, Nanjing, Shanghai and Guangzhou, the report said.