China Merchants Port Holdings Company Limited (SEHK: 144) is a major conglomerate based in Hong Kong and is involved in a range of businesses such as port operations, general and bulk cargo transportation, container and shipping business, air cargo, logistics park operations and paint products.
China Merchants Port is considered as a Red Chip company as the Hong Kong Stock Exchange listing.
The company has approximately 130 berths for loading and unloading at wharves and piers worldwide, with a capacity of 60 million containers.
[12][10][13] In February 2018, the company completed the sale of its indirectly owned unit, Shenzhen Chiwan Wharf Holdings Limited, which provides logistics, container terminal and port management services and has interests in operations in general and bulk cargo terminals businesses.
[14] Source:[2] Table 1 provides information on the company's major managers, specifying each person's full name and their roles.
The decision to remove China Merchants Port was due to its turnover volume and market capitalisation failed to meet the minimum requirements.
As part of China's "Maritime Silk Road" plan, the company has increased its overseas port facility upgrades in recent years.
The sea routes, proposed by Chinese Communist Party leader Xi Jinping, aim to connect China to Europe via Southeast Asia and the Middle East.
[2][16] The company has acquired 49% stake in Terminal Link, the combination of Compagnie Maritime d'Affrètement (CMA) and Compagnie Générale Maritime (CGM), as well as the purchase of 90% stock in TCP Participações SA, A, the second largest container terminal in Brazil with a design capacity of 1.5 million TEU, for US$923.7 million.
[17] Besides, the company also engaged with the Sikan Island Container Terminal located in Nigeria, the Multipurpose Port of Doraleh located in Djibouti, Colombo International Container Terminal Limited and the Hambantota Port project in Sri Lanka in relation to China's Belt and Road Initiative.
China Merchants Port acquired a 49% “advantageous stake” in Terminal Link in 2013, which is the subsidiary of CMA CGM, the name of two predecessor companies combined, Compagnie Maritime d'Affrètement (CMA) and Compagnie Générale Maritime (CGM), the world's third-largest container shipping company in France.
Sirisena, a member of the Parliament of Sri Lanka, negotiates with China Merchants Port and sells the government's majority stake in the terminal company.