Rizhao Port Group, which operates China's leading iron ore port, aims to restructure operations to become less reliant on imports. Two thirds of its business is currently generated by inbound volumes, although during the autumn traffic has fallen by half as steel producers await a resolution to an impasse over world iron ore prices. By 2015, Rizhao believes that iron ore will account for just one third of its delivery capacity; oil and containers will be sucked in to fill the gap. Nevertheless, in the short term, $234 million is to be invested in a new iron ore berth at the port of Lanshan.
Barry Cross