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    600018   CNE0000013N8

SHANGHAI INTERNATIONAL PORT (GROUP) CO., LTD.

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Shanghai International Port : Israel opens Chinese-operated port in Haifa to boost regional trade links

09/02/2021 | 03:48am EST

JERUSALEM, Sept 2 (Reuters) - Israel has opened a new shipping port along its Mediterranean coast that will bring much needed competition to a sector plagued by delays and boost the country's standing as a regional trade hub.

The 5.5 billion shekel ($1.7 billion) Bay Port at Haifa, which will be operated by Shanghai International Port Group (SIPG), will enable larger classes of cargo ships, carrying 18,000 containers or more, to dock in Israel.

The country is selling its state-owned ports and building new private docks in an effort bring down costs and cut above-average wait times for vessels to unload. About 99% of all goods move in and out of Israel over sea and an upgrade is needed to maintain economic growth.

Warming ties with neighboring Arab countries are also creating new trade opportunities for Israel and Haifa is well placed to become a regional hub.

"I'm sure we can leverage this opportunity not just for local prosperity, but for realizing opportunities and making a real contribution to our neighbors in the Middle East," Transport Minister Merav Michaeli said in a statement after the port was inaugurated in a low-key ceremony on Wednesday.

Another new port on the Mediterranean coast is due to open in Ashdod by the end of the year, to be operated Swiss-based Terminal Investment Limited.

($1 = 3.2045 shekels) (Reporting by Ari Rabinovitch; Editing by Mike Harrison)


ę Reuters 2021
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Financials
Sales 2021 34 933 M 5 465 M 5 465 M
Net income 2021 15 089 M 2 360 M 2 360 M
Net Debt 2021 9 853 M 1 541 M 1 541 M
P/E ratio 2021 7,29x
Yield 2021 4,72%
Capitalization 111 B 17 372 M 17 371 M
EV / Sales 2021 3,46x
EV / Sales 2022 3,48x
Nbr of Employees -
Free-Float 14,9%
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Shanghai International Port (Group) Co., Ltd. Technical Analysis Chart | 600018 | CNE0000013N8 | MarketScreener
Technical analysis trends SHANGHAI INTERNATIONAL PORT (GROUP) CO., LTD.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 5
Last Close Price 4,77 CNY
Average target price 7,01 CNY
Spread / Average Target 46,9%
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