Core Viewpoint - Qingdao Port International Co., Ltd. and Huaguang Natural Power Holdings Limited have signed a strategic cooperation agreement to develop new business models for electric vessels, promote the construction of green shipping corridors, and develop shore power networks [1][3]. Group 1: Strategic Cooperation - The agreement aims to create a global shore power service network, providing integrated and environmentally friendly shore power supply solutions for international shipping clients [3]. - Qingdao Port will share its experience and resources in shore power development to support Huaguang Natural Power in launching and implementing shore power infrastructure projects in Hong Kong [3]. - The cooperation will cover project planning, technical solutions, financing models, construction and commissioning, operational models, and training and personnel exchanges [3]. Group 2: Industry Impact - The partnership is expected to reduce carbon emissions in the shipping industry and support broader energy transitions [3]. - Both companies will work together to promote joint initiatives for carbon reduction and emission mitigation, enhancing Qingdao Port's international influence and brand reputation [3]. - The collaboration is seen as a significant step in deepening mutual trust and expanding the breadth and depth of green energy cooperation, contributing to the construction of a green port and the shipping decarbonization process [3]. Group 3: Company Background - Qingdao Port International Co., Ltd. is a major operator of the Shandong Province Qingdao Port, established on November 15, 2013, focusing on efficient logistics services and innovative green solutions [4]. - The company operates five major port areas and provides various cargo handling and logistics services, equipped with advanced terminal facilities and comprehensive port functions [4]. - Huaguang Natural Power Holdings Limited aims to integrate resources from its parent company and leading renewable energy developers to invest in and operate shipping electrification infrastructure networks in Asia [5]. - The company is dedicated to providing shore power supply for docked vessels and charging services for nearshore electric vessels, promoting decarbonization and sustainable development in the shipping industry [5].

Report Information - Report Title: Key Container Ports and Critical Hubs Monitoring 20250911 [1] - Research Institute: Orient Securities Derivatives Research Institute - Department: Black and Shipping Department - Analyst: Lan Xi - Qualification Number: F03086543 - Investment Consulting Number: Z0016590 Core Viewpoints - Asian ports: Chinese ports show a slight rebound, and the persistence of congestion deterioration needs attention; the ship turnover efficiency of Port Klang has slightly improved, but the congestion scale is still rising, and the risk of congestion deterioration remains high; Singapore Port has good ship operation conditions [2]. - European ports: With the end of summer in the Northern Hemisphere, the congestion in European ports may be improved, but the congestion pressure in German ports continues due to railway construction [2]. - North American ports: The operation status of North American ports is good [2]. Summary by Region Asian Ports - **Ship waiting and berthing time**: The weekly average waiting time/berthing time of ocean - going container ships in Yangshan Port, Waigaoqiao, Ningbo Port, Qingdao Port, Singapore Port, and Port Klang are 24.8h/26.0h, 36.6h/25.8h, 20.7h/26.7h, 26.0h/26.8h, 4.1h/29.2h, and 7.0h/27.1h respectively [2]. - **Number of ships at anchor and berthing**: The latest number of container ships at anchor/berthing in Yangshan Port, Waigaoqiao, Ningbo Port, Singapore Port, and Port Klang are 24/29, 33/25, 24/35, 2/47, and 2/13 respectively [2]. - **Average turnover time**: The average turnover time of Yangshan Port is about 2.1 days, Ningbo Port is about 1.9 days, and Yantian Port is about 1.3 days [2]. - **Average time in port**: The average time in port of Yangshan Port is 50.4 hours, Ningbo Port is 45.6 hours, Singapore Port is 33.2 hours, Port Klang is 39.8 hours, etc. [6] European Ports - **Ship waiting and berthing time**: The weekly average waiting time/berthing time of ocean - going container ships in Rotterdam, Antwerp, Hamburg, Bremen, and Valencia are 4.3h/45.6h, 2.2h/39.2h, 30.3h/54.1h, 8.1h/28.7h, and 12.7h/32.2h respectively [2]. - **Number of ships at anchor and berthing**: The latest number of container ships at anchor/berthing in Rotterdam, Antwerp, Hamburg, and Valencia are 6/30, 2/14, 6/16, and 4/10 respectively [2]. - **Average time in port**: The average time in port of Rotterdam is 49.9 hours, Hamburg is 82.9 hours, Valencia is 56.0 hours, etc. [6] North American Ports - **Ship waiting and berthing time**: The weekly average waiting time/berthing time of ocean - going container ships in Long Beach, Los Angeles, Tacoma, New York, Savannah, Norfolk, and Houston are 0h/104.3h, 0h/106.0h, 0h/101.5h, 8.3h/52.5h, 35.6h/34.0h, 29.0h/23.2h, and 9.2h/45.0h respectively [2]. - **Number of ships at anchor and berthing**: The number of container ships at anchor/berthing in Long Beach and Los Angeles is 1/18, and in New York is 1/9 [2]. - **Average time in port**: The average time in port of Long Beach is 116.3 hours, Los Angeles is 106.0 hours, New York is 56.4 hours, etc. [6] Other Information - **Large - ship arrival situation**: The report monitors the arrival situation of large - scale container ships in ports such as Yangshan Port, Ningbo Port, and Singapore Port, as well as the arrival situation of 1.2w+ container ships of different alliances in Asian, Northwest European, and Mediterranean ports [40][43][45]. - **Canal passage situation**: The report also monitors the passage situation of container ships in the Cape of Good Hope, Suez Canal, and Panama Canal [45].

Core Viewpoint - Xiamen Port Development Co., Ltd. is implementing a "Quality and Return Improvement" action plan to enhance investor confidence and promote sustainable development, aligning with national policies to boost capital market activity and improve the quality of listed companies [1][2]. Group 1: Asset Integration and Business Development - The company plans to acquire controlling interest in Xiamen Container Terminal Group, which is expected to significantly increase its asset and profit scale. Projected net profit will rise from 200 million yuan to 596 million yuan, an increase of 198.43%, and earnings per share will grow from 0.27 yuan to 0.39 yuan, a 44.44% increase [1][2]. - The acquisition will create a dual-driven business model of "containers + bulk cargo," enhancing the company's core competitiveness and establishing it as a comprehensive modern port logistics service provider [2]. Group 2: Dividend Policy and Investor Returns - The company has established a three-year dividend plan (2024-2026) to distribute at least 30% of the average annual distributable profit in cash, with a total cash dividend of 80,115,436.48 yuan planned for 2024 [3][4]. - Post-restructuring, the company aims to increase the dividend payout ratio to 60% of the annual distributable profit from 2025 to 2027, enhancing shareholder returns and creating a high-dividend asset profile [4]. Group 3: Technological Innovation and Sustainability - The company is committed to integrating modern technologies such as AI, 5G, and blockchain into port logistics, focusing on smart port construction and green development [5][6]. - It has successfully participated in various projects aimed at enhancing port functionality and sustainability, including the development of smart logistics platforms and green port initiatives [6][10]. Group 4: Corporate Governance and Information Disclosure - The company is enhancing its governance structure by improving internal controls and decision-making processes, ensuring compliance with relevant laws and regulations [7][8]. - It is committed to high-quality information disclosure, ensuring transparency and effective communication with investors to build trust and convey the company's value [8]. Group 5: Social Responsibility and ESG Commitment - The company actively engages in community service and social responsibility initiatives, contributing to various social causes and promoting environmental sustainability [9][10]. - It aims to become a responsible corporate citizen and a key player in achieving carbon neutrality in the port industry, aligning its operations with ESG principles [10].

Core Viewpoint - The article discusses a research experiment conducted in Lianyungang City, focusing on the application of dredged silt in the construction of a port access channel, aiming to enhance resource utilization and reduce environmental pollution [1][2]. Group 1: Research and Experimentation - The research experiment is based on the project "Key Technology Research on the Application of Dredged Silt in Fluid Solidified Soil" [1]. - The test section involves a B-type slope dam measuring 200 meters in length, 5 meters in width, and 0.3 meters in thickness, where traditional soil filling is replaced with solidified soil made from dredged silt [2]. Group 2: Technology and Methodology - Solidified soil technology involves adding solidifying agents, additives, and water to the soil, resulting in a material with certain strength and water resistance [2]. - The new polymer solidified soil technology offers better engineering performance compared to traditional inorganic solidifying agents, allowing for easier adjustment of component ratios for various applications [2]. Group 3: Environmental Impact and Resource Utilization - The application of dredged silt solidified soil technology addresses the disposal challenges of dredged waste soil and enhances the resource utilization of dredged materials, promoting eco-friendly channel construction [2].

（原标题：智利圣安东尼奥港位列全球百大集装箱港口榜单第100名） 智利《信使报》9月8日报道，据劳氏日报，智利圣安东尼奥港时隔三年再度入围 全球百大集装箱港口榜单，位列世界第100，拉美第9。2024年圣安东尼奥港集装箱吞 吐量达181万标准箱，较2023年增长17.8%。巴西桑托斯港以548万标准箱的吞吐量高居 拉美首位（全球第37），随后是巴拿马的科隆港（第41）和巴尔博亚港（第50）、墨 西哥曼萨尼约港（第52）、哥伦比亚卡塔赫纳港（第58）、秘鲁卡亚俄港（第71）、 墨西哥拉萨罗卡德纳斯港（第83）以及厄瓜多尔瓜亚基尔港（第85）。全球范围内， 中国港口群继续领跑，占全球集装箱运输总量的40%。2024年劳氏百大港口总吞吐量达 7.4亿标准箱，同比增长8.1%。 ...

不仅如此，烟台港更将"人文关怀"落到细节：旅游咨询台整合热门景点、交通线路与特色美食，帮旅客解锁"烟台味道"；无障碍通道、母婴室一应俱全， 残疾旅客可免费使用助行设备，并有专人全程帮扶，贴心回应特殊需求。 便捷出行离不开高频次航班支撑。目前，"新香雪兰"轮每周一、三、五从烟台港启航，次日直达韩国仁川港；"海蓝鲸"轮每周二、四、日出发，次日直达 韩国平泽港。每周六班的稳定运营，让这条"跨国海上高速"成为国际旅客出行优选。 在国际旅检厅，韩籍旅客金敏雅正咨询烟台美食："我在网上看到很多中国美食，这次专门来尝鲜！"工作人员流利的韩语回复，让她惊喜不已。为了让旅 客"顺畅又舒心"，烟台港聚焦外籍旅客需求，多维度优化服务。 "我们在售票厅、候船区设英韩双语引导标识，动态信息屏实时刷新航班动态，方便旅客查询。"烟台港国际客运站主任姜璇介绍。同时，烟台港积极打 造"品重烟台综合服务厅"，双语工作人员驻守售票、安检岗位，一站式解答疑问，消除沟通障碍；还针对团队旅客特点，联动口岸联检部门、船公司与旅 行社，推进"智慧旅检"建设，开设团队专用快速通道，安排专员协助通关，提升效率。 齐鲁晚报.齐鲁壹点于洋通讯员王景 今年暑期，齐鲁 ...

Core Viewpoint - Yantian International has been awarded the "Asia's Best Container Terminal (over 4 million TEUs)" at the "Asian Freight, Logistics and Supply Chain Awards," marking its third win of this prestigious honor since 2018 and 2023 [1] Group 1 - Yantian International has won the "Asia's Best Container Terminal" award three times in the past eight years and has also received the "Global Best Green Container Terminal" award four times [3] - The company emphasizes collaboration with stakeholders and the Kwai Tsing Container Terminal in Hong Kong to enhance the efficiency and sustainability of the supply chain [3] - Yantian International boasts a natural deep-water port advantage with a channel depth of nearly 18 meters and a width of 475 meters, allowing for all-weather, two-way navigation of the world's largest container vessels [3] Group 2 - Currently, Yantian International has established 20 inland ports, 33 sea-rail intermodal routes, 15 Greater Bay Area combined ports, and 17 feeder routes, ensuring seamless connections to the national railway network and other domestic ports [5] - The company has maintained a positive growth trend in container transport volume, with a nearly 30% increase in heavy container volume expected in 2024, setting a new historical record [5] - Yantian International aims to expand its route network and enhance its role as a shipping hub, contributing to Shenzhen's development as a globally influential logistics center and reinforcing Hong Kong's status as an international shipping center [5]

Group 1 - The "Western Land-Sea New Corridor" has significantly contributed to the open development of the western region over the past six years, becoming an important engine for growth [1] - The connectivity level of the corridor has been comprehensively improved, with major transportation infrastructure projects such as railways, highways, and waterways being advanced [1] - The Pinglu Canal project has completed over 80% of its investment and is expected to be completed next year, making the corridor the third in the country with river-sea intermodal capabilities [1] Group 2 - The North Bay Port's international hub functions are accelerating, with major projects like the 200,000-ton automated container terminal in Qinzhou and the 200,000-ton bulk cargo terminal in Fangchenggang now operational [2] - Container throughput at North Bay Port has increased from 3.82 million TEUs in 2019 to a projected 9.02 million TEUs in 2024, averaging an annual growth of 18.7% [2] - The number of container shipping routes has expanded to 91, covering major ports in ASEAN countries, and the port is on track to achieve the "10 million TEU port" goal this year [2] Group 3 - The operational capacity of the corridor has improved in both quantity and quality, with the annual shipment volume of the Western Land-Sea New Corridor increasing from 110,000 TEUs in 2019 to 500,000 TEUs in 2024, a 3.5-fold increase [2] - The number of cross-border direct trains between China and Vietnam has reached 1,768, marking a 65% year-on-year increase, indicating rapid growth in logistics scale [2] Group 4 - Regional collaborative development has deepened, with significant international partnerships established for the construction and operation of North Bay Port [3] - The corridor is promoting the construction of a hydrogen energy logistics corridor, effectively driving the development of the hydrogen energy industry [3] - The import and export trade volume through Guangxi from corridor provinces has nearly doubled from 344.8 billion yuan in 2019 to 676.9 billion yuan in 2024, with a year-on-year growth of 18% in the first seven months of this year [3]

Core Insights - The total weight of goods transported through the busiest short-sea shipping ports in the EU in 2023 is 1.6 billion tons, representing a 5.4% decrease compared to 2022 [1] Group 1: Port Rankings - The busiest port in the EU is the Port of Rotterdam in the Netherlands, handling 159 million tons, which accounts for 9.9% of the EU total [1] - The second busiest port is the Port of Antwerp-Bruges in Belgium, with a total of 119 million tons [1] - The third is the Port of Gdansk in Poland, which handled 61 million tons [1] Group 2: Definition of Short-Sea Shipping - Short-sea shipping refers to maritime cargo transport over relatively short distances, specifically between EU ports and ports located along the European, Mediterranean, and Black Sea coasts [1]

Core Viewpoint - The control of key global ports is crucial for supply chain dynamics, and recent developments indicate that Chinese companies may miss the opportunity to acquire ports owned by Li Ka-shing, as new buyers have emerged [2][10]. Group 1: Port Business Overview - Li Ka-shing's business empire includes a significant port network that spans Asia, Europe, and the Americas, with over 50 terminals and an annual throughput accounting for more than 11% of the global total [4]. - The strategic focus of Cheung Kong Group appears to be shifting due to increasing geopolitical risks, leading to higher policy uncertainties for infrastructure assets like ports [4][6]. Group 2: Potential Buyers and Market Dynamics - The potential buyers for the ports include American and Italian consortiums, with BlackRock, the world's largest asset management company, and the Italian Aponte family, who control the second-largest shipping company, MSC [6][8]. - The combination of BlackRock's financial leverage and the Aponte family's operational expertise is seen as a strong competitive advantage over Chinese firms [8][14]. Group 3: Chinese Companies' Exit from Bidding - Chinese companies are likely to be completely out of the bidding process due to stringent regulatory scrutiny from Western nations regarding foreign investments in critical infrastructure [10][12]. - The shift in Chinese overseas investment strategies from aggressive acquisitions to more cautious "light asset cooperation" models reflects the changing landscape [12][14]. Group 4: Implications of the Transaction - If the transaction is completed, it could lead to a reshaping of the global port power structure, with BlackRock and the Aponte family controlling key logistics nodes and potentially creating a tighter supply chain [16]. - The sale of these ports may provide a short-term boost to Cheung Kong's stock price and could trigger adjustments in the valuation of international logistics stocks [19][21]. Group 5: Future Considerations - The funds from the sale may be directed towards increasing investments in stable, inflation-resistant assets in Europe and the U.S., reflecting a cautious approach to global economic uncertainties [21]. - Potential regulatory challenges from the EU regarding the acquisition of ports by shipping giants could complicate the transaction [21].