Qingdao port, a vital international trade window and bulk cargo transferring hub in eastern China's Shandong province, is going to offer customized services on iron ore trade, sources reported.
Qingdao Port Group Co., Ltd, the port operator, inked ten strategic cooperation agreements with nearly 300 representatives of some 130 steel makers, iron ore miners and traders from home and abroad on May 30, pledging more favorable policies and services to foster iron ore transactions in the future.
China is the world's largest steel producer, therefore, its consumption of iron ore, the most important steel-making feedstock, also tops the globe. Data showed that the trade volume of seaborne import iron ore in China has surpassed 70% of the total volume around the world.
Currently, most iron ore business is conducted at Qianwan port and Dongjiakou port of Qingdao port, which involves a complete chain of ''end-to-end'' services from customs clearance, cargo unloading, storage, distribution to futures delivery.
Faced with stringent de-capacity move in domestic steel industry and fierce competition of logistics services in iron ore market, Qingdao port has been closely collaborating with all relevant parties, including Chinese customs, railway corporations, key steel mills and traders, vowing to offer the first-class port trade environment for iron ore business.
On March 27 this year, Qingdao port signed a strategic cooperation contract with ITOCHU Corporation to facilitate the iron ore transfer from China to Japan and South Korea, sources said.
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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