Shanghai Zhenhua Port Machinery, which produces nearly three-quarters of the world’s quayside cranes, said Tuesday it had won a US$200 million (RMB1.52 billion) order from Dubai-based DP World, the China Securities Journal reported. The order for 15 40-foot tall twin quayside container cranes plus other equipment is scheduled for delivery in 2008 and 2009. “Shanghai Zhenhua is always able to outbid its rivals on major projects thanks to its economies of scale and lower labor costs,” Ping Jingwei, an analyst with a Shanghai securities firm, said. Shanghai Zhenhua’s net profit climbed 32% year-on-year in 2006 to US$210 million (RMB1.6 billion) as surging transnational cargo transportation drove demand for its container cranes and other port equipment. DP World is a leading logistics dispatcher running 42 ports in 22 countries. Dubai is its showcase terminal.

China International Marine Containers (CIMC) has purchased an 80% stake in Dutch container builder Burg Industries BV, the China Business Herald reported. The price was not disclosed but CIMC earlier said it would pay US$117 million (RMB889.9 million) for the stake. CIMC, whose controlling shareholders are state-owned shipping group COSCO and China Merchants Holdings, announced revenues and profits of US$4.37 billion (RMB33.2 billion) and US$368 million (RMB2.8 billion) respectively in 2006. Burg, which is privately owned by the Van der Berg family in Holland, posted US$306.1 (RMB2.33 billion) in revenues and US$12.3 million (RMB93.5 million) in net profits in 2006.

US-based transport and logistics company YRC Worldwide confirmed its acquisition of Shanghai Jiayu, a ground transport company, was underway, the 21st Century Business Herald reported. The two companies have come to a preliminary consensus, which will take effect after the deal has been approved by their respective boards and the relevant regulatory authorities in China. “Around 90% of our 800,000 clients need delivery services in China and Jiayu’s transport network will be a cornerstone of that,” said Bill Zollars, chairman of YRC. Privately-owned Shanghai Jiayu has 30,000 clients and more than 3,000 vehicles. YRC currently has about 200 vehicles in China.