China: Dalian Port plans to acquire neighbouring port, Jinzhou, Reuters has reported.
"We are ready to take control of Jinzhou Port," Xia Daren, the mayor of Dalian said.
In 2008, Jinzhou Port reported that Dalian would take an 18.9 percent stake in it to become the second largest shareholder and strategic partner.
Dalian is China's second largest oil port but has suffered in recent months due to the financial downturn. Container throughput fell in February by ten percent, making it the largest drop, and the worst month, in the port's history.
Mr Xia said that 2009 would be a tough year and border trade was expected to be negatively affected.
In other news, Tianjin Port has announced plans to invest US$1.8 billion to upgrade facilities and build new berths. Tianjin plans to team up with China Shuehua Group, China's largest coal miner, to build a new coal mine.
The port's cargo throughput is expected to increase by 7.3 percent in 2009 to 380 million tonnes.
