USTR exempts STS crane orders arriving by May, 2026 from 25% tariff
NewsUnder new rules from the US Trade Representative, ship-to-shore cranes ordered before May 14, 2024, and arriving by May 14, 2026, will avoid a 25% tariff on imports from China.
YICT ties up Phase III funding Yantai financing complete
Yantian International Container Terminals (YICT) has signed a HK$3.3 bill 5-year term loan facility with a consortium of banks, including Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China and China Development Bank, to finance its Phase III development project.
With a total investment of HK$6.6 bill, the YICT Phase III project includes four 9,000-plus TEU vessel berths along with the necessary support facilities. The first two berths commenced operations on 16 October and 26 November 2003 respectively and the remaining two scheduled for completion by the middle and end of 2004. The entire Phase III project is due to be completed by the end of 2005.
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This complete item is approximately 550 words in length, and appeared in the May 2004 issue of WorldCargo News, on page 7. To access this issue download the PDF here.
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