Cosco, China Merchants each seek 40pc of Taiwan terminal

TAIWAN`s Yang Ming Marine Transport recently received separate offers from China Cosco and China Merchants to acquire a total of 40 per cent shares of Taiwan largest harbour Kaohsiung`s container terminal six, according to a Yang Ming executive who declined to be named, reported Wall Street Journal.

The two Chinese companies each proposed to buy a 20 per cent of the Terminal 6, which is jointly financed by Yang Ming and Taiwan government and scheduled to be completed in 2014. The terminal`s first two berths are expected to operate in January 2011.


Yang Ming needs to submit the proposal to Taiwan`s Ministry of Transport and Communications and the Kaohsiung Port Authority for approval. If the acquisition is granted, this will be mainland China`s first investment in a Taiwan port.