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Shanghai Firm Gets Big Order from US for Port Machinery
The Shanghai Zhenhua Port Machinery Co., Ltd. has received an order for US$143 million worth of super-Panama-type container cranes to a US port administration, reportedly the largest container machinery order recorded in the shipping industry in the world.
Shanghai Zhenhua, which for three years ranked first in the world in terms of port machinery export, will sell 20 cranes to the Long Beach Port Administration, which runs the United States' largest container port.
Zhenhua had its first group of six super-Panama cranes sold to the Long Beach Port in 1996, the first time Chinese-made cranes entered the U.S. market.
The company, which has maintained a 30-percent growth in export since 1995, is to build a world-class port machinery export base in the estuary of the Yangtze River, with an investment of one billion yuan. The project is expected to be partly operational by the end of March this year.
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