Hongkong International Terminals Limited, COSCO-HIT Terminals Limited and Asia Container Terminals Limited have entered into a collaboration agreement to co-manage 16 berths across Terminals 4, 6, 7, 8 and 9 at the Port of Hong Kong.

According to HIT, the partnership addresses the changing dynamics of the global shipping industry, reflected by the shifting of strategic alliances.

Efficiency and capacity flexibility will be improved because the terminals will be overseen by a single management team.

The revenue and expenses derived from the operation of the terminals will be allocated among the three companies based on the designed capacity of each of the respective facilities.

HIT owns 12 berths at Terminals 4, 6, 7 and 9. COSCO-HIT owns two berths at Terminal 8 East and ACT also owns two berths at Terminal 8 West.