Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. China
  4. Shanghai Stock Exchange
  5. Shanghai International Port (Group) Co., Ltd.
  6. News
  7. Summary
    600018   CNE0000013N8

SHANGHAI INTERNATIONAL PORT (GROUP) CO., LTD.

(600018)
  Report
End-of-day quote Shanghai Stock Exchange  -  2022-09-22
5.540 CNY   +0.73%
09/22Shanghai International Port Earmarks $7.8 Billion for Container Terminal Project in China
MT
08/29Shanghai International Port Co., Ltd. Reports Earnings Results for the Half Year Ended June 30, 2022
CI
07/26Asian investors bet on Haifa as Israel draws closer to Arab Gulf
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Asian investors bet on Haifa as Israel draws closer to Arab Gulf

07/26/2022 | 08:40am EDT
Haifa's Bay Port, which is operated by Shanghai International Port Group in Haifa, Israel

HAIFA, Israel (Reuters) - The city of Haifa is set to become an increasingly significant east Mediterranean shipping hub, with Chinese and Indian firms buying into its ports as Israel normalizes ties with its Gulf Arab neighbours under a U.S. diplomatic push.

Earlier this month, as U.S. President Joe Biden visited the Middle East, India's largest port developer Adani Ports and Israeli minority partner Gadot agreed to buy Haifa Port for 4.1 billion shekels ($1.18 billion).

Its founder, Asia's richest man Gautam Adani, said via Twitter that the deal was of "immense strategic and historical significance", and the company is betting the port will become a link to Europe and create new trade lanes with Asia.

A year before, Chinese rival Shanghai International Port Group (SIPG) said it saw the same potential when it inaugurated its 5.5 billion shekel Bay Port container shipping terminal right next door.

Their convergence on Haifa touches on a broader contest between Chinese, Indian and U.S. interests, said Carice Witte, executive director of SIGNAL, an Israeli policy group that specializes in China-Israel relations.

    "When you see China at a port in Haifa, Haifa now becomes an incredibly important strategic point," she said. "Whereas maybe in the past it was not perceived that way, Israel in general and Haifa very specifically - its relevance as a piece on the puzzle has changed."

    The two ports are too big to serve just Israel, and officials expect the underdeveloped bay of Haifa to become a hub for trade and transshipment, meaning the handling of goods that are unloaded in Israel and then sent to other countries.

    This would have been unthinkable just a decade ago, when Israel was politically isolated from potential trade partners in the region.

    But while peace talks with the Palestinians remain stuck, Israel has normalized ties with new markets like the United Arab Emirates, Bahrain and Morocco, and all the while forging deeper trade ties with countries in the Far East.

"Israel is a very important place, connecting east and west," Miao Qiang, CEO of SIPG's Bay Port, said at the terminal's control center. "All ships from the Suez Canal from east to west are (passing) through this area."

Just outside, new cargo railways are being constructed that will link into the nationwide network and, should regional integration continue, potentially into Jordan, which could then link up Iraq and Saudi Arabia.

Adani Ports did not respond to Reuters' requests for comment. Opher Linchevski, chief executive of Gadot, said the joint venture aimed to benefit from "the warming relationship between Israel and the Arab Gulf countries".

    The expansion of Haifa bay is also expected to alleviate problems with congestion, after crises from COVID-19 lockdowns to Russia's invasion of Ukraine fed into a global supply chain crunch that earlier this year snarled a fifth of the global container ship fleet in ports.

    Average ocean dwell times - the period a vessel spends at a port - are currently 2.5 days per load at the Port of Haifa, down from a peak of 3.5 days in May but is still 75% higher than at the start of the year, data from supply-chain tracking platform FourKites showed.

The country's ports currently handle a total of about 3 million TEU, the standard unit for 20-foot containers. SIPG expects that to jump to 5 million TEU in 5 to 8 years, at which point Bay Port's capacity could double to 2 million TEU, with half of the business dedicated to transshipment.

(Reporting by Ari Rabinovitch in Haifa and Jonathan Saul in London; Editing by Jan Harvey)

By Ari Rabinovitch and Jonathan Saul


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ADANI ENTERPRISES LIMITED -1.15% 3673.9 End-of-day quote.115.03%
ADANI PORTS & SPECIAL ECONOMIC ZONE LIMITED -3.47% 913.8 Delayed Quote.25.13%
ADANI POWER LIMITED -2.69% 385.6 Delayed Quote.286.76%
ADANI TRANSMISSION LIMITED -3.28% 3869.7 End-of-day quote.123.31%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.02% 0.6527 Delayed Quote.-8.49%
BRITISH POUND / US DOLLAR (GBP/USD) 0.06% 1.0856 Delayed Quote.-16.77%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.00% 0.7353 Delayed Quote.-6.16%
EURO / US DOLLAR (EUR/USD) -1.51% 0.969 Delayed Quote.-13.47%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.26% 0.012308 Delayed Quote.-8.11%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.00% 0.5744 Delayed Quote.-14.48%
SHANGHAI INTERNATIONAL PORT (GROUP) CO., LTD. 0.73% 5.54 End-of-day quote.1.09%
VESSEL CO., LTD. -5.43% 6090 End-of-day quote.71.55%
All news about SHANGHAI INTERNATIONAL PORT (GROUP) CO., LTD.
09/22Shanghai International Port Earmarks $7.8 Billion for Container Terminal Project in Chi..
MT
08/29Shanghai International Port Co., Ltd. Reports Earnings Results for the Half Year Ended ..
CI
07/26Asian investors bet on Haifa as Israel draws closer to Arab Gulf
RE
07/14Israel sells Haifa Port to India's Adani Ports, Israel's Gadot for $1.2 bln
RE
06/29Shanghai International Port to Spin Off Shipping Unit for Shanghai Float
CI
04/29Shanghai International Port Co., Ltd. Reports Earnings Results for the First Quarter En..
CI
04/21China Merchants Port Holdings Company Limited acquired a 28.06% stake in Shanghai Inter..
CI
04/01China stocks rise as weak factory data fans stimulus hopes
RE
04/01China stocks rise as weak factory data fans stimulus hopes
RE
04/01China stocks rise on stimulus hopes after weak economic data
RE
More news
Financials
Sales 2022 36 846 M 5 169 M 5 169 M
Net income 2022 15 749 M 2 210 M 2 210 M
Net Debt 2022 7 816 M 1 097 M 1 097 M
P/E ratio 2022 8,20x
Yield 2022 4,34%
Capitalization 129 B 18 097 M 18 097 M
EV / Sales 2022 3,71x
EV / Sales 2023 3,61x
Nbr of Employees -
Free-Float 13,7%
Chart SHANGHAI INTERNATIONAL PORT (GROUP) CO., LTD.
Duration : Period :
Shanghai International Port (Group) Co., Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SHANGHAI INTERNATIONAL PORT (GROUP) CO., LTD.
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 6
Last Close Price 5,54 CNY
Average target price 7,34 CNY
Spread / Average Target 32,6%
EPS Revisions
Managers and Directors
Jun Yan President, General Manager & Director
Jin Shan Gu Chairman
Jian Wei Zhang Independent Director
Rui Qing Shao Independent Director
Lin Chi Qu Independent Director