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Global economy starts to recover

Global economy starts to recover
Northeast China port operator Dalian Port (PDA) Co Ltd said its operations had improved in recent months.

Northeast China port operator Dalian Port (PDA) Co Ltd said its operations had improved in recent months.

Northeast China port operator Dalian Port (PDA) Co Ltd said its operations had improved in recent months as the global economy starts to recover and trade picks up.

The company's total port handling throughput rose 12 percent in January-August, after a 5 percent drop in January alone, Chairman Sun Hong told reporters at the World Economic Forum in Dalian.

But container throughput was flat in the year through August, he added.

As both container and port handling throughput improve month to month, Dalian Port expects its second-half revenue to improve on the first-half's 4 percent drop.

The company is also moving ahead with investment in a number of infrastructure-related projects, as China's 4 trillion yuan ($586 billion) stimulus program drives demand for such new work.

Dalian Port is building a 1.25 million cubic metre oil tank with CNPC, the state-owned parent of PetroChina, and expects to complete construction this year and start filling the tank with oil in 2010, Sun said.

Dalian Port is also investing more in iron ore and oil handling infrastructure, though it is cutting its spending in containers, he added.

www.TurkishMaritime.com.tr

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