Cosco Shipping Ports has entered into a merger agreement with Tianjin Port Holdings and China Merchants International Terminals, according to media reports.
The organisations will merge their respective container assets at Tianjin, including: Tianjin Port Container Terminal Company (TCT), Tianjin Five Continents International Container Terminal Company (FICT) and Tianjin Orient Container Terminal Company (TOCT).
The agreements aim to reduce operational costs, unify management processes and optimise operations. All of the terminals will operate under the TCT banner.
