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Shanghai International Port Leases Yangshan Phase Four Assets for 780 Million Yuan

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Shanghai International Port (SHA:600018) signed a one-year lease agreement with related party Tongsheng Group for the Yangshan Phase Four terminal operating assets at an annual rent of 780 million yuan.

The contract automatically renews annually absent objections, with rents dynamically adjusted based on five-year government bond yields, according to a Friday filing with the Shanghai bourse.

The assets include 2,770 meters of berths and 1.6 million square meters of facilities representing an investment of about 12.2 billion yuan.

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