TOP 30 PORT MARKETS IN CHINA Including market segments and growth drivers across China. InduStreams.com & Port-Investor.

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1 TOP 30 PORT MARKETS IN CHINA Including market segments and growth drivers across China

2 Introduc8on This presenta,on lays out the a onepage overview of each of the 30 biggest port markets in China (as listed in the table). For more reference material including maps these can also be viewed directly on PortInvestor.com using the outlined links. This presenta,on is organized as follows: Total market and segment overview for all major cargo segments Port ranking and growth benchmarks for the past 5 years The individual port market profiles Port Link Chongqing Dalian Fangcheng Guangzhou Hangzhou Hong Kong Huanghua Huzhou Jiangyin Jiaxing River Lianyungang Nanjing Nantong Ningbo Qingdao Qinhuangdao Quanzhou Rizhao Shanghai Shenzhen Suzhou Taizhou (Jiangsu) Tangshan Tianjin Xiamen Yantai Yingkou Yueyang Zhenjiang Zhoushan

3 Total market 12,000 10,000 8,000 6,000 4,000 2,000 Tonnes 6,410 7,022 7,657 8,932 10,041 Market size: Throughput was 10.04bn tonnes for the market in 2011 corresponding to a 56.6% increase over 2007 and an average yoy growth of 11.9%. Market segments: Based official staisics (2011) about 73% was dry noncontainer cargo, 18% container and 9% liquid bulk related. 9% 18% Container Dry noncontainer cargo Market drivers: The market drivers differ greatly from segment to segment, each will be covered in the following slides. 73% Liquid bulk

4 Container segment 180, , , , ,000 80,000 60,000 40,000 20,000 TEU 114, , , , ,000 11% Market size: Throughput was 164mn TEU for the container segment in 2011 corresponding to a 43.9% increase over 2007 and an average y- oy growth of 9.5%. Market segments: The vast majority of the cargo was from sea ports and only a smaller part from river ports. Other relevant segmentaions include transshipment versus gateway cargo and domesic versus internaional. 89% River ports Sea ports Market drivers: This segment has over the last many years materially been driven by the exporing sectors, but for some areas local consumpion and imports are staring to have an impact.

5 Dry noncontainer cargo segment 8, , , , , , , ,000.0 Throughput 4, , , , ,356.0 Market size: Throughput was 7.36bn tonnes for the dry noncontainer segment in 2011 corresponding to a 57.1% increase over 2007 and an average yoy growth of 12.0%. Market segments: Dry bulk represents the vast majority of this segment (80%) with break/bulk and general cargo and roll on roll of cargo only combined 20%. 6% 14% Dry bulk 80% Ro/Ro Break bulk/general cargo Market drivers: Generally speaking this segment is primarily import driven and domesic consumpion (industrial). Further iron ore and coal are the biggest dry bulk cargoes and this segment is to a high degree driven by infrastructure development and energy consumpion.

6 Liquidbulk segment 1, Throughput Market size: Throughput was 911mn tonnes for the liquidbulk segment in 2011 corresponding to a 43.7% increase over 2007 and an average y- oy growth of 9.5%. Market segments: Crude oil represents more than half of this segment. The remainder is represented by petrochemical related products, LNG, chemicals and others. 45% 55% Crude oil Product, chemical and other Market drivers: Given the high degree of oil and oil related products this segment is primarily driven by domesic consumpion of such. However the strategic oil reserves being built in China also play a significant role (short to midterm).

7 The biggest port markets (115) Notes: Total throughput is in million tonnes. Containers (TEU) are in thousands. The percentage for 2011/07 indicates the growth from 2007 to 2011 and the CAGR is the average yoy growth for the same period.

8 The biggest port markets (1630) Notes: Total throughput is in million tonnes. Containers (TEU) are in thousands. The percentage for 2011/07 indicates the growth from 2007 to 2011 and the CAGR is the average yoy growth for the same period. N/A indicates that there is either no significant container market or that there only in the last years of the period have been seen some container volume.

9 APPENDIX MARKET PROFILES FOR THE 30 BIGGEST PORTS

10 Shanghai Port Market (1) Tonnes ,000 30,000 25,000 20,000 15,000 10,000 5,000 TEU 26,150 27,980 25,002 29,069 31,839 Market size: Total market throughput was 730mn tonnes and for containers 31.8mn TEU in 2011 giving an increase of 30.4% and 21.8% over 2007 and an average yoy growth of 6.9% and 5.0% respecively. Cargo segments: Based official staisics (2010) and own esimates about 52% was dry bulk and general cargo, 44% container and 4% liquid bulk related. Ownership and opera7on: Shanghai Port is under the administraion of the Shanghai Port Authority and the jurisdicion of the Shanghai Municipality. For the individual terminals most are operated in joint ventures with Shanghai InternaIonal Port Group (SSE:600018).

11 Tianjin Port Market (2) Tonnes ,000 12,000 10,000 8,000 6,000 4,000 2,000 TEU 7,103 8,500 8,700 10,800 11,500 Market size: Throughput was 452mn tonnes for the total market and 11.5mn TEU for container in This corresponds to a 46.3% and 61.9% increase over 2007 respecively and an average yoy growth of 10.0% and 12.8%. Cargo segments: Based official staisics (2010) and own esimates about 58% was dry bulk and general cargo, 26% container and 15% liquid bulk related. Admin and opera7on: Tianjin Port is under the administraion of the Tianjin Port Authority and the jurisdicion of the Tianjin Municipality. For the individual terminals most are operated in joint ventures with the Tianjin Port Group or the Tianjin Port Development Company (HKG:3382).

12 Guangzhou Port Market (3) Tonnes ,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 TEU 9,360 11,001 11,190 12,526 14,400 Market size: Throughput was 448mn tonnes for the total market and 14.4mn TEU for container in This corresponds to a 31.8% and a 53.8% increase over 2007 respecively and an average yoy growth of 7.1% and 11.4%. Cargo segments: Based official staisics (2010) and own esimates about 72% was dry bulk and general cargo, 22% container and 6% liquid bulk related. Ownership and opera7on: Guangzhou Port is under the administraion of the Guangzhou Port Authority and the jurisdicion of the Guangdong Province. For the individual terminals most are operated in joint ventures with the Guangzhou Port Group.

13 Ningbo Port Market (4) Tonnes ,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 TEU 9,200 11,226 10,503 13,144 14,690 Market size: Throughput was 430mn tonnes for the total market and 14.7mn TEU for container in This corresponds to a 24.6% and 59.7% increase over 2007 respecively and an average yoy growth of 5.7% and 12.4%. Cargo segments: Based official staisics and own esimates (2010) about 49% was dry bulk and general cargo, 32% container and 20% liquid bulk related. Ownership and opera7on: Ningbo Port is under the administraion of the Ningbo Port Authority and jurisdicion of the Zhejiang Province. For the individual terminals most are operated in joint ventures with the Ningbo Port Company (SSE:601018). The data and comments do not cover Zhoushan Port.

14 Suzhou Port Market (5) Tonnes ,000 4,000 3,000 2,000 1,000 TEU 1,896 2,570 2,718 3,644 4,700 Market size: Throughput was 380.0mn tonnes for the total market and 4.7mn TEU for container in This corresponds to a 106.8% and 147.9% increase over 2007 respecively and an average yoy growth of 19.9% and 25.5%. Cargo segments: Based official staisics and own esimates (2010) about 88% was dry bulk and general cargo, 11% container and 1% liquid bulk related. Ownership and opera7on: Suzhou Port is under the administraion of the Suzhou Port Authority and under the jurisdicion of the Jiangsu Province (it is a combinaion of Zhangjiagang port, Taicang port and Changshu port). For individual terminals some are operated in joint ventures with the respecive Zhangjiagang and Changshu Port Groups and Taicang port company, some are purely private.

15 Qingdao Port Market (6) Tonnes ,000 12,000 10,000 8,000 6,000 4,000 2,000 TEU 9,462 10,320 10,260 12,010 13,020 Market size: Throughput was 375mn tonnes for the total market and 13.0mn TEU for container in This corresponds to a 41.5% and 37.6% increase over 2007 respecively and an average yoy growth of 9.1% and 8.3%. Cargo segments: Based official staisics (2010) and own esimates about 47% was dry bulk and general cargo, 34% container and 19% liquid bulk related. Ownership and opera7on: Qingdao Port is under the administraion of the Qingdao Port Authority and the jurisdicion of the Shandong Province. For the individual terminals most are operated in joint ventures with the Qingdao Port Group.

16 Dalian Port Market (7) Tonnes ,000 6,000 5,000 4,000 3,000 2,000 1,000 TEU 3,813 4,503 4,552 5,242 6,400 Market size: Throughput was 338.7mn tonnes for the total market and 6.4mn TEU for container in This corresponds to a 54.0% and 67.8% increase over 2007 respecively and an average yoy growth of 11.4% and 13.8%. Cargo segments: Based on official staisics (2010) and own esimates about 62% was dry bulk and general cargo, 18% container and 20% liquid bulk related. Ownership and opera7on: Dalian Port is under the administraion of the Dalian Port Authority and the jurisdicion of the Liaoning Province. For the individual terminals most are operated in joint ventures with the Dalian Port Group or the Dalian Port (PDA) Company (HKG:2880).

17 Tangshan Port Market (8) Tonnes TEU Market size: Throughput was 317.0mn tonnes for the total market and 0.34mn TEU for container in This corresponds to a 369% and 76.2% increase over 2007 respecively and an average yoy growth of 47.2% and 15.2%. Cargo segments: Based official staisics and own esimates (2010) about 96% was dry bulk and general cargo, 1% container and 3% liquid bulk related. Ownership and opera7on: Tangshan Port is under the administraion of the Tangshan Port Authority and under the jurisdicion of the Hebei Province, it includes the Jingtang and Caofeidian port areas. For the individual terminals most are operated in joint ventures with the Tangshan Port Group (SSE: ). References: Main sources include

18 Qinhuangdao Port Market (9) Tonnes TEU Market size: Throughput was 280mn tonnes for the total market and 0.43mn TEU for container in This corresponds to a 12.5% and 43.3% increase over 2007 respecively and an average yoy growth of 3.0% and 9.4%. Cargo segments: Based official staisics and own esimates (2010) about 95% was dry bulk and general cargo, 1% container and 4% liquid bulk related. Ownership and opera7on: Qinhuangdao Port is under the administraion of the Qinhuangdao Port Authority and under the jurisdicion of the Hebei Province. For the individual terminals some are operated in joint ventures with the Hebei Port Group some purely private.

19 Hong Kong Port Market (10) Tonnes ,000 24,000 23,000 22,000 21,000 20,000 19,000 TEU 23,998 24,494 21,040 23,699 24,384 Market size: Total market throughput was 277.4mn tonnes and 24.4mn TEU for containers in 2011 giving an increase of 13.0% and 1.6% over 2007 respecively and an average yoy growth of 3.1% and 0.4%. Cargo segments: As per report from % of total cargo throughput was containerized 12.2% liquid bulk, 7.3% dry bulk and 5.3% break bulk. Ownership and opera7on: The port administraion is carried out by the Hong Kong Marine Department whereas the individual terminal companies are privately operated. Hong Kong Port is under the jurisdicion of the Hong Kong Special AdministraIve Region. Reference: Main data sources were and

20 Yingkou Port Market (11) Tonnes ,500 4,000 3,500 3,000 2,500 2,000 1,500 1, TEU 1,371 2,040 2,537 3,338 4,033 Market size: Throughput was 260.8mn tonnes for the total market and 4.0mn TEU for container in This corresponds to a 113.6% and 194.2% increase over 2007 respecively and an average yoy growth of 20.9% and 31.0%. Cargo segments: Based official staisics (2010) and own esimates about 76% was dry bulk and general cargo, 15% container and 9% liquid bulk related. Ownership and opera7on: Yingkou Port is under the administraion of the Yingkou Port Authority and under the jurisdicion of the Liaoning Province. For the individual terminals most are operated in joint ventures with the Yingkou Port Company (SSE: ).

21 Zhoushan Port Market (12) Tonnes TEU Market size: Throughput was 260.5mn tonnes for the total market and 0.21mn TEU for container in This corresponds to a 103.3% and 155.3% increase over 2007 respecively and an average yoy growth of 19.4% and 26.4%. Cargo segments: Based official staisics (2010) and own esimates about 79% was dry bulk and general cargo, 1% container and 20% liquid bulk related. Ownership and opera7on: Zhoushan Port is under the administraion of the Zhoushan Port Authority and under the jurisdicion of the Zhejiang Province. For the individual terminals some are operated in joint ventures with the Zhoushan Port Group some are private.

22 Rizhao Port Market (13) Tonnes ,600 1,400 1,200 1, TEU ,061 1,420 Market size: Throughput was 250.0mn tonnes for the total market and 1.42mn TEU for container in This corresponds to a 91.4% and 230.2% increase over 2007 respecively and an average yoy growth of 17.6% and 34.8%. Cargo segments: Based official staisics (2010) and own esimates about 92% was dry bulk and general cargo, 5% container and 3% liquid bulk related. Ownership and opera7on: Rizhao Port is under the administraion of the Rizhao Port Authority and jurisdicion of the Shandong Province. For the individual terminals most are operated in joint ventures with the Rizhao Port Company (SSE:600017).

23 Shenzhen Port Market (14) Tonnes ,000 20,000 15,000 10,000 5,000 TEU 21,099 21,400 18,250 22,510 22,570 Market size: Throughput was 223.3mn tonnes for the total market and 22.6mn TEU for container in This corresponds to a 12.1% and 7.0% increase over 2007 respecively and an average y- oy growth of 2.9% and 1.7%. Cargo segments: Based official staisics and own esimates (2010) about 22% was dry bulk and general cargo, 71% container and 7% liquid bulk related. Admin and opera7on: Shenzhen is under the administraion of several smaller port authoriie and for the individual terminals most are operated in private joint ventures. Notes: Main sources include and the China Ports Year

24 Yantai Port Market (15) Tonnes ,800 1,600 1,400 1,200 1, TEU 1,250 1,532 1,401 1,541 1,708 Market size: Throughput was 180.3mn tonnes for the total market and 1.71mn TEU for container in This corresponds to a 78.0% and 36.6% increase over 2007 respecively and an average yoy growth of 15.5% and 8.1%. Cargo segments: Based official staisics and own esimates (2010) about 83% was dry bulk and general cargo, 10% container and 7% liquid bulk related. Ownership and opera7on: Yantai Port is under the administraion of the Yantai Port Authority and jurisdicion of the Shandong Province. For the individual terminals most are operated in joint ventures with the Yantai Port Group or Yantai Port Company.

25 Nantong Port Market (16) Tonnes TEU Market size: Throughput was 173.3mn tonnes for the total market and 0.54mn TEU for container in This corresponds to a 40.4% and 26.1% increase over 2007 respecively and an average yoy growth of 8.9% and 6.0%. Cargo segments: Based official staisics (2010) and own esimates about 91% was dry bulk and general cargo, 3% container and 6% liquid bulk related. Ownership and opera7on: Nantong Port is under the administraion of the Nantong Port Authority and jurisdicion of the Jiangsu Province. For the individual terminals most are operated privately or in joint venture with Nantong Port Group.

26 Nanjing Port Market (17) Tonnes ,000 1,500 1, TEU 1,056 1,292 1,212 1,453 1,748 Market size: Throughput was 171.3mn tonnes for the total market and 1.75mn TEU for container in This corresponds to a 57.7% and 65.5% increase over 2007 respecively and an average yoy growth of 12.1% and 13.4%. Cargo segments: Based official staisics (2010) and own esimates about 67% was dry bulk and general cargo, 10% container and 23% liquid bulk related. Ownership and opera7on: Nanjing Port is under the administraion of the Nanjing Port Authority and under jurisdicion of the Jiangsu Province. For the individual terminals most are operated in joint ventures with the Nanjing Port Company (SZE:002040).

27 Lianyungang Port Market (18) Tonnes ,000 5,000 4,000 3,000 2,000 1,000 TEU 2,003 3,001 3,021 3,870 4,822 Market size: Throughput was 166mn tonnes for the total market and 4.8mn TEU for container in This corresponds to a 95.1% and 140.7% increase over 2007 respecively and an average yoy growth of 18.2% and 24.6%. Cargo segments: Based on official staisics (2010) and own esimates about 70% was dry bulk and general cargo, 29% container and 1% liquid bulk related. Ownership and opera7on: Lianyungang Port is under the administraion of the Lianyungang Port Authority and jurisdicion of the Jiangsu Province. For the individual terminals most are operated in joint ventures with the Jiangsu Lianyungang Port Company (SSE:601008).

28 Xiamen Port Market (19) Tonnes ,000 6,000 5,000 4,000 3,000 2,000 1,000 TEU 4,627 5,035 4,680 5,824 6,461 Market size: Throughput was 156mn tonnes for the total market and 6.5mn TEU for container in This corresponds to a 92.2% and 39.6% increase over 2007 respecively and an average yoy growth of 17.7% and 8.7%. Cargo segments: Based official staisics (2010) and own esimates about 56% was dry bulk and general cargo, 42% container and 2% liquid bulk related. Ownership and opera7on: Xiamen Port is under the administraion of the Xiamen Port Authority and jurisdicion of the Fujian Province. The individual terminals most are operated in joint ventures with the Xiamen Port Group, the Xiamen InternaIonal Port Company (HKG:3378) or the Xiamen Port Development Company (SZE:000905).

29 Huzhou Port Market (20) Tonnes NO MATERIAL CONTAINER VOLUME Market size: Throughput was 138.8mn tonnes for the total market in This corresponds to a substanial increase over 2007, however the port administraive scope was enlarged in 2008 and the market as such has actually seen a slight decline since consolidaion rather than an increase. Cargo segments: Based official staisics and own esimates (2010) close to 100% was dry bulk and general cargo. Ownership and opera7on: Huzhou Port is under the administraion of the Huzhou Port Authority and under the jurisdicion of the Zhejiang Province. For the individual terminals most are private operated.

30 Jiangyin Port Market (21) Tonnes ,200 1, TEU ,011 1,116 Market size: Throughput was 129mn tonnes for the total market and 1.1mn TEU for container in This corresponds to a 78.7% and 263.5% increase over 2007 respecively and an average yoy growth of 15.6% and 38.1%. Cargo segments: Based official staisics and own esimates (2010) about 86% was dry bulk and general cargo, 8% container and 6% liquid bulk related. Ownership and opera7on: Jiangyin Port is under the administraion of the Jiangyin Port Authority and under the jurisdicion of the Jiangsu Province. For the individual terminals some are operated in joint ventures with the Jiangyin Port Group some private.

31 Taizhou Port Market (22) Tonnes TEU Market size: Throughput was 120.4mn tonnes for the total market and 0.12mn TEU for container in This corresponds to a 377.3% and 71.6% increase over 2007 respecively and an average yoy growth of 47.8% and 14.5%. Cargo segments: Based official staisics (2010) and own esimates about 93% was dry bulk and general cargo, 1% container and 6% liquid bulk related. Ownership and opera7on: Taizhou Port is under the administraion of the Taizhou Port Authority and the jurisdicion of the Jiangsu Province. The individual terminals some are operated in joint ventures with the Taizhou Port Group some enirely private.

32 Zhenjiang Port Market (23) Tonnes TEU Market size: Throughput was 118mn tonnes for the total market and 0.35mn TEU for container in This corresponds to a 50.8% and 23.1% increase over 2007 respecively and an average yoy growth of 10.8% and 5.3%. Cargo segments: Based official staisics and own esimates (2010) about 94% was dry bulk and general cargo, 3% container and 3% liquid bulk related. Ownership and opera7on: Zhenjiang Port is under the administraion of the Zhenjiang Port Authority and under the jurisdicion of the Jiangsu Province. For the individual terminals some are operated in joint ventures with the Zhenjiang Port Group some private.

33 Chongqing Port Market (24) Tonnes TEU Market size: Throughput was 112.9mn tonnes for the total market and 0.69mn TEU for container in This corresponds to a 166.0% and 58.6% increase over 2007 respecively and an average yoy growth of 27.7% and 12.2%. Cargo segments: Based official staisics (2010) and own esimates about 91% was dry bulk and general cargo, 6% container and 3% liquid bulk related. Ownership and opera7on: Chongqing Port is under the administraion of the Chongqing Port Authority and jurisdicion of the Chongqing Municipality. For the individual terminals most are operated in joint ventures with the Chongqing Port LogisIcs Group or Chongqing Gangjiu Company (SSE:600279).

34 Huanghua Port Market (25) Tonnes NO MATERIAL CONTAINER VOLUME Market size: Throughput was 111mn tonnes for the total market and no material container traffic. This corresponds to a 33.7% increase over 2007 for total throughput and an average yoy growth of 7.5%. Cargo segments: Based official staisics and own esimates (2010) about 99% was dry bulk and general cargo. Less than 1% are container and liquid bulk related. Ownership and opera7on: Huanghua Port is under the administraion of the Hebei Cangzhou Port Authority and under the jurisdicion of the Hebei Province. For the individual terminals some are operated under Hebei Port Group some are operated by Shenhua, one of China's largest coal producers.

35 Jiaxing Port Market (26) Tonnes TEU 2 60 Market size: Throughput was 107mn tonnes for the total market and 0.06mn TEU for container in This corresponds to a 30.9% increase over 2007 for total throughput and an average yoy growth of 7%. Cargo segments: Based official staisics and own esimates (2010) about 99% was dry bulk and general cargo. Less than 1% are container and liquid bulk related. Ownership and opera7on: Jiaxing River Port is a combinaion of 25 river ports in Jiaxing prefecture. It is under the administraion of the Jiaxing Port Authority and under the jurisdicion of the Zhejiang Province. For the individual terminals most are private.

36 Fangcheng Port Market (27) Tonnes TEU Market size: Throughput was 93.4mn tonnes for the total market and 0.26mn TEU for container in This corresponds to a 208% and 53.2% increase over 2007 respecively and an average yoy growth of 32.5% and 11.2%. Cargo segments: Based official staisics and own esimates (2010) about 96% was dry bulk and general cargo, 3.3% container and 1% liquid bulk related. Ownership and opera7on: Fangcheng Port is under the administraion of the Fangcheng Port Authority and and under the jurisdicion of the Guangxi Province. For the individual terminals most are operated in joint ventures with the Fangcheng Port Group or Beibu Gulf Port Group.

37 Quanzhou Port Market (28) Tonnes ,800 1,600 1,400 1,200 1, TEU 1,019 1,207 1,250 1,370 1,568 Market size: Throughput was 93.3mn tonnes for the total market and 1.57mn TEU for container in This corresponds to a 50.1% and 53.9% increase over 2007 respecively and an average yoy growth of 10.7% and 11.4%. Cargo segments: Based official staisics and own esimates (2010) about 64% was dry bulk and general cargo, 16% container and 20% liquid bulk related. Ownership and opera7on: Quanzhou Port is under the administraion of the Quanzhou Port Authority and under the jurisdicion of the Fujian Province. For the individual terminals some are operated in joint ventures with the Quanzhou Port Group some private.

38 Hangzhou Port Market (29) Tonnes NO MATERIAL CONTAINER VOLUME Market size: Throughput was 88.9mn tonnes for the total market in No material container traffic. This corresponds to a 12.4% increase over 2007 and an average yoy growth of 3.0%. Cargo segments: Based official staisics and own esimates (2010) about 97% was dry bulk and general cargo and 3% liquid bulk related. Ownership and opera7on: Hangzhou Port is under the administraion of the Zhejiang Provincial Port Authority and under the jurisdicion of the Zhejiang Province. For the individual terminals most are private.

39 Yueyang Port Market (30) Tonnes TEU Market size: Throughput was 86.2mn tonnes for the total market and 0.14mn TEU for container in This corresponds to a 110.2% and 189.4% increase over 2007 respecively and an average yoy growth of 20.4% and 30.4%. Cargo segments: Based official staisics and own esimates (2010) about 94% was dry bulk and general cargo, 1.5% container and 4.2% liquid bulk related. Ownership and opera7on: Yueyang Port is under the administraion of the Yueyang Port Authority and under the jurisdicion of the Hunan Province. For the individual terminals most are private.

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