05.07.2007

$200 million container crane order

Shanghai Zhenhua Port Machinery Co - the world's biggest maker of quayside cranes - has won an order of US$ 200 million (£100 miillion) from Dubai Ports World (DP World).

The deal announced Tuesday, includes the delivery of 15 twin 40-foot quayside container cranes and 32 rail-mounted models to DP World in 2008 and 2009 to be used in Dubai's second-phase ports.

Dubai-based DP World is one of the largest marine terminal operators in the world with 42 terminals in 22 countries. It is owned by the government of Dubai in the United Arab Emirates.

It is thought that Zhenhua now has almost three quarters of the global market for container cranes. This new contract with DP world is the third major deal Zhenghua has clinched this year following the two contracts it concluded with AP Moller and Hanjin Shipping.

In February, Zhenhua won a US$200 million contract to supply port equipment to South Korea's Hanjin Shipping Co and in April, it won a US$250 million order from Denmark-based shipping company A.P. Moeller-Maersk Group.

Zhenhua has benefited from rising cargo traffic all over the world, which saw net income rise 32 percent last year.