| Shanghai Port plans new cruise line

The port’s operator is seeking
partners for a new venture that
would reduce reliance on
foreign cruise companies.
SHANGHAI International Port (Group)
Company, operator of the Port of Shanghai,
may start a cruise line to help cut back its
dependence on overseas operators and
secure traffic at its passenger terminal,
Bloomberg News reported this week.
According to the report, discussions are
underway with cruise lines to form a new
venture, and an announcement could be
made in the second half of the year.
“All cruise liners presently are foreign
companies,” Henry Hwang, general manager
of unit Shanghai Port International Cruise
Terminal Development Company told Bloomberg.
“Their investments here are mobile. If
anything happens, be it political developments
or weather conditions, they could leave,” he
added.
Parent Shanghai International Port may hold
a 50% stake in the venture, Hwang said,
without naming any potential partners.
Royal Caribbean Cruises Ltd and Costa
Cruises are the lines currently operating from
Shanghai terminal, located in the city centre.
The facility can hold four passenger ships of
up to 70,000 tonnes each.
A second terminal in Shanghai is designed to
take larger cruise vessels.
The two terminals are expected to handle
about 400,000 passengers this year, compared
with 230,000 last year, Hwang said.
Approximately 95% of the cruise passengers
passing through the city’s terminals are
Chinese nationals going to Hong Kong, Taiwan,
Japan and South Korea, he said.