Japan and China are snapping up rights in key Asian ports as they vie for control over a shipping route that is crucial to both their nations’ interests.
Sihanoukville Autonomous Port, a Cambodian port operator, floated 25% of its shares on the local bourse on June 8. Then the Japan International Cooperation Agency purchased about half that amount.
Sihanoukville is Cambodia’s only deep-water international port. Its container traffic grew an average of 13% each year between 2011 and 2015 on strong economic growth in Asia. Although Japan provided large loans for the port’s development, Chinese players have been aggressively buying shares in the operator, leading to a bitter contest. Read More…
Credit By: Hellenic Shipping News
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