Document of The World Bank FOR OFFICIAL USE ONLY Report No. 8085 PROJECT COMPLETION REPORT P-OPLE'S REPUBLIC OF CHINA THREE PORTS PROJECT (LOAN 2207-CHA) OCTOBER 6, 1989 Transport and Energy Operations Division Country Department III Asia Reeional Office This document has a restricted distribution and may be used by recipients only in the performance of their oficial duties. Its contents may not otherwise be disclosed without World B&nk authorization. CURRENCY Currency Name - Renminbi Currency Unit - Yuan (Y) CURRENCY EQUIVALENTS (YEAR AVERAGE) Appraisal Year 1982 1983 1984 1985 1986 1987 1988 US$1 Y 1.750 Y 1.922 Y 1.984 Y 2.418 Y 2.965 Y 3.460 Y 3.722 Y 3.722 FISCAL YEAR January 1 to December 31 MEASUREMENT EQUIVALENTS Metric System British!US System 1 meter (m) = 3.281 feet (ft) 1 square meter (sq m) 10.765 square feet (sq ft) 1 cubic meter (cu m) = 35.320 cubic feet (cu ft) 1 kilometer (km) = 0.621 mile 1 ton (t) = 2,208 pounds GLOSSARY OF ABBREVIATIONS CFS - Container Freight Station CHC - Cargo Handling Corporation cif - cost, insurance and freight dwt - dead weight tons fob - free on board GHB - Guangzhou Harbour Bureau HAB - Harbour Administration Bureau HPB - Huangpu Port Bureau MLW - Mean Low Water Level MOC - Ministry of Communications MOF - Ministry of Finance PCR - Project Completion Report SAR - Staff Apppraisal Report SDR - Special Drawing Rights SPB - Shanghai Port Bureau SPC - State Planning Commission TEU - Twenty Foot Equivalent Unit (Containers, TPA - Tianjin Port Authority FOR OFXICIAL W OnY THE WOtLD BANK Washton. D.C. 20433 U.S.A. Olke of OnW IvAaaSI opbod awakeom" October 6, 1989 MEMORANDUM TO THE EXECUTIVE DIRECTORS AND THE PRESIDENT SUBJECTs Project Completion Report on People's Republic of China Three Ports Proiect (Loan 2207-CHA) Attached, for information, is a copy of a report entitled "Project Completion Report on People's Rspublic of China - Three Ports Project (Loan 2207-CiA)" prepared by the Asia Regional Office. An audit of this project has been planned for next year by the Operations Evaluation Department. Attachment This document ha a retricted distnbutin and my be used by recipients only In the peiformace of their ofical duties Its contents may not othbeww be discoed without World Bank authrzon. FOR OMCIAL usE ONLY PEOPLE'S RPUCLIC OF CH.RA THREE PORTS PROJECT, LOAN 2207-CIA PROJECT COMPLETION REPORT Table of Contents Page No. PREFACE .. . .......... - BASIC DATA SHEETS ................. .. ... . .............. EVALUATION SMDMARY ......... . .. ......... .-...-.. ...-..... v I. INTRDCTO %........................... 1 II. PROJECT FORMULATION.................... ... .. 3 A. identification ........ .......... 106........ 3 B. Appraisal... ........ ..... . . .. 4 c. Negotiations ..0..... 40 ...... ..... D. Project Objectives and Description ......6 1;1. PROJECT IHPLEEAION AND CO.OSTS.. 8 A. Project Implemaentation .................. ...... 8 B. Triig ...........0n .... ..# ..... C. Project Costs and Loan Disburse me .. . In IV. INSTITUTIONAL PERFORMANCE. .. ............. .... .11 A. Organization and Mnagement . . 11 B. Traffic .......... . .. ........... 40....... 12 C. Productivity .. ....... . .... .. -.- ...- 13 D. Performance of the Bank..n.. . ............. . .... 14 E. Performance of the Borrower ......... . F. Performance of Contractors, Equipment Suppliers and... 15 Consultants............... *O.............*.............. V. FINANCIAL PERFORMANCE ................... 16 A. Decentralization. ............. . * ** ....................... 16 B. Past Performance, 1981-1988............ 18 C. Present Financial Position................. 21 VI. ECONOMIC REEVALUATION ........................... ..... 22 VII. CONCLUSIONS AND LESSONSLEA . ... .. #.L 24 This document has a restricted distribution sad may be used by rfciplnt,t only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization. Page No. ANNEX 1 - Containerization Study 27 ANNEX 2 - Compliance with Loan Conditions 28 ANNEX 3 - Economic Analvsis 30 TABLES Table 3.1 - Details of Container Equipment Contracts 37 Table 3.2 - Comparison of Estimated and Actual Project Costs 38 Table 3.3 - Estimated and Actual Cumulative Disbursement 39 Table 4.1 - Actual and Forecast Container Traffic Through All Berthing 40 Facilities in Each of the Three Ports Table 5.1 - Actual and Projected Income Statements (1980-1988) 1 Table 5.2 - Actual and Projected Balance Sheets (1980-1988) 4 Table 5.3 - Sources and Applications of Funds (1980-1988) 47 Table 6.1 - Actual. and Forecast Traffic of Major Commodities (1980-2000) 50 Table 6.2 - Ship Time Analysis 53 Table 6.3 - Operational Parameters Assumed for Economic Evaluation 54 Table 6.4 - Economic Cost of the Project 58 Table 6.5 - Ship Time Analysis With and Without Proposed Berths 59 Table 6.6 - Loading/Unloading Cost Savings 63 Table 6.7 - Economic Benefits - Summary 67 Table 6.8 - Economic Rate of Return and Sensitivity Analysis. 68 CHARTS Chart 3.1 - Huangpu Coal Terminal, Construction and Equipment Schedule 74 Chart 3.2 - Huangpu Container Terminal, Construction and Equipment 75 Schedule Chart 3.3 - Shanghai Container Terminal, Construction and Equipment 76 Schedule Chart 3.4 - Tianjin Container Terminal, Construction and Equipment 77 Schedule ATTACHMENT Comments from Borrower 78 MAPS - IERD 15512R3, China Railways, Ports and Airports - IBRD 15817R- Huangpu Port, Coal Terminal - IBRD 15845R- Huangpu Port, Container Terminal - IBRD 15815R- Shanghai Container Terminal - IBRD 15813R- Tianjin Container Terminal PEOPLE'S REPUBLIC OF CHINA THREE PORTS PROJECT. LOAN 2207-CHA PROJECT COMPLETION REPORT PREFACE This is the Project Completion Report (PCR) for the Three Ports Project in China, for which Loan 2207-CHA in the amount of US$124.0 million was approved on November 2, 1982. The loan was closed on June 30, 1988, one year behind schedule. US$56.0 million was cancelled and the last disbursement took place on March 23, 1989. The PCR was prepared by the Transport and Energy Operations Division, Country Department III (China), Asia Regional Office, and is based, inter alia, on the Staff Appraisal Report; the President't Report; supervision report; correspondence between the Bank and the Borrower; interviews with Bank staff associated with the project; and data provided by the Chinese authorities. This PCR was read by the Operations Evaluation Department (OED). The draft PCR was sent to the Borrower for comments and they are attached co the Report (Attachment I). - ii - CHINA THREE PORTS PROJECT (LN 2207-CHA) PROJECT COMPLETION REPORT BASIC DATA SHEET Appraisal Actual or Item Expectation Current Estimate Total Project Cost (USS million) 427.4 266.15 La Total Project Cost tY million) 748.2 651.74 Cost Underrun (Z) in USS term - 37.70 Cost Underrun (S) in Yuan term - 12.80 Loan Amount (USS million) 124.0 67.97 La Disbursed as of March 31, 1989 124.0 67.97 la Cancelled _ 56.03 /a Repaid 61.50 Outstanding Project Completion Date 12/31/86 12/31/88 Proportion Completed by Above Date 96 100 Proportion of Time of Overrun (2) - 50 Overall Economic Rate of Return (%) 29 Lb 34 /c Financial Performance - Better Institutional Performance Better CUMULATIVE ESTiMATED AND ACTUAL DISBURSEMENTS (USS Million) FY84 FY85 FY86 FY87 FY88 01/31/89 Appraisal Estimate 24.50 60.50 105.00 124.00 124.00 124.00 Appraisal as Revised /a 13.40 33.19 57.82 67.97 67.97 67.97 Actual 3.50 21.80 48.00 60.50 67.20 67.20 /b Actual as X of Revised Appraisal 25.7 64.9 81.8 87.7 97.4 97.4 /a Lower project cost is due to very low prices offered for equipment procured under CB. Consequently US$55.0 million equivalent were cancelled on May 10, 1984 at Government request thus reducing the loan to US$69.0 million equivalent. An additional US$1.03 million equivalent were cancelled on October 27, 1987 (para. 3.3). lb 39? for Huangpu project, 232 for Shanghai project and 212 for Tianjin project. c 392 for Huangpu project, 48? for Shanghai project and 246 for Tianjin project. - li - STAFF INPUT (staff weeks) FY81 FY82 FY83 FY84 FY85 FY86 FY87 FY88 FY89 Total Preappraisal 25 - - - - - - - - 25 Appraisal - 65 - - - - - - _ 65 Negotiations - 32 - - - - - - - 32 Supervision - - 32 15 15 15 10 2 22 111 Subtotal 25 97 32 15 15 15 10 2 22 233 MISSION DATA /a No. of Mission /b Staff id le Type of Item Mo/Year Persons Composition Weeks /c Rating Trend Problem /f Preparation 10/80 3 E,F,P 4.0 Preappraisal 03/81 3 E,F,P 4.5 Appraisal 07/81 3 E,F,P 3.5 Supervision 1 11/82 2 E,P 1.5 Supervision 2 03/83 4 EIF,P,O 1.5 2 1 M,0 Supervision 3 11/83 3 F,PIO 1.5 1 1 - Supervision 4 11/84 2 F,P 3.0 1 2 _ Supervision 5 10/85 3 E,F,P 2.5 1 1 - Supervision 6 11/86 2 F,P 2.5 1 1 - Completion 01/89 2 E.P 3.5 /a Excludes brief visits for which supervision reports were not prepared. /b E - Transport Economist; F - Financial Analysts; P - Port Engineer and 0 - Port Operations Specialist. /c Adjusted to reflect time spent on this project; most missions I,arolved work on other projects. /d 1 - problem free or minor problems. 2 - moderate problems, 3 - major problems. /e 1 - improving, 2 - stationary, 3 - deteriorating. /f M - managerial, 0 - others. - Iv - PROJECT DATES Item Original Plan Revisions Actual or Est. Actual First Mention in Files - 06/80 Government application - - - Negotiations 01/82 - 09/82 Board Approval 02/82 - 11/02/82 Loan Agreement Date 03/82 - 11/16/82 Effectiveness Date 02/16/83 - 02/02/83 Closing Date 06/30/87 - 06/30/88 OTHER PROJECT DATA Borrower The People's Republic of China Executing Agency Ministry of Communications Fiscal Year of Borrower January 1 - December 31 FOLLOW-ON PROJECTS Loan/Credit Amount Date of Project Number (million) Agreement Tianjin Port Ln. 2689-CHA US$130.0 10/16/86 Huangpu Port Ln. 2877-CHA/ US$ 63.0 & Cr. 1845-CHA SDR 19.8 6/22/88 Dalian Port Ln. 2907-CHA/ US$ 71.0 & Cr. 1875-CHA SDR 18.2 7/15/88 Ningbo and Shanghai Ports Ln. 3006-CHA US$ 76.4 2/13/89 Xiamen Port Ln. 3007-CHA USS 36.0 Not signed yet - v - PEOPLE'S REPUBLIC OF CHINA THREE PORTS PROJECT, LOAN 2207-CHA PROJECT COMPLETION tEPORT EVALUATIONf SUOMIRY Introduction 1. The project was only the third Bank lending operation for China, and the first in the transport sector. Prom project identification in 1980 until project virtual completion in 1986 (and final closure in 1988), the project period coincided with major reforms in the national economy, long overdue developments in the transport sector and decentralization of the ports subsector. 2. Government's objectives in the transport sector are to increase the intensity of railway, road and waterway utilization to cope with the rapidly growing economy as well as the increasing demand for the transport of raw materials, manufactured goods and passengers. Coal transportation by sea from the loading ports in northern China to the ports in the south, and thereafter by land to the different power stations, is particularly essential for energy supply and hence for industrial growth. China also needs to substantially expand its port facilities to overcome the problems created by the steady increase in traffic and the inadequate berth capacity and container handling capability. Project Obiectives and Description 3. The main objective of the project was to enable the three most impor- tant ports in China (Huangpu, Shanghai and Tianjin) to meet short-term requirements in order not to become serious bottlenecks in the country's economic development. In order to achieve the above objective, the project included construction of container terminals at the above ports; construction of a coal terminal at Huangpu port; provision of container handling and coal handling equipment to serve the above mentioned terminals; training of ports, managers, staff and labor; and carrying out a containerization study of the hinterlands of the three ports to identify intermodal terminals, other facili- ties and transport equipment required. Total ;roject cost was estimated at US$427.4 million equivalent. The Bank loan of US$124 million was expected to be disbursed over 3X years. Implementation Experience 4. Loan negotiations were difficult, partly attendant to the fact that China was a new borrower, not used to the Bank's normal project preparation requirements, particularly its interest (and information requirements), as a development institution, in broader planning and institutional issues beyond the specific project focus. Negotiations involved three sessions starting February 1982 and ending September 1982. The Loan became effective in February 1983. Civil works, studies and training were financed by the _ vi - Government whereas the Bank loan financed coal and container handling equip- ment. The coal and container terminals were designed by local institutes and constructed by local construction bureaus under the Ministry of Communications (MOC). Construction was completed on schedule and the quality of work was good. Training was carried out in China. Japan and Belgium; it exceedei the SAR requirements. The containerization study was adequately carried out by a local institute; among other things, it proposed certain measures to strengthen the hinterland transportation of containers. 5. Bid prices for equipment financed by the Loan under ICB were much lower than the prevailing world prices (in an apparent attempt by some suppliers to gain an early foothold in what appeared as a potentially large new market), and about 60Z lower than the appraisal estimate. As a result, the Bank agreed to a Government request to: (a) purchase additional container-handling equipment totalling some US$18 million; and (b) cancel US$56.03 million from the signed loan of US$124 million. The majority of equipment was procured from foreign countries and has performed satisfac- torily; however, the few items manufactured locally proved to be inferior in quality and efficiency to those manufactured outside China. 6. The project was successfully completed in its entirety on schedule at a total cost of US$266.15 million as compared to the appraisal estimate of US$427.40 million. However, the purchase of merely one additional crane for Huangpu port, resulted in delaying project completion, and consequently this PCR, by about two years. No disbursements were made between January 1988 and February 1989. Proiect Results 7. Project objectives have been fully achieved. The amount of coal being handled on the new coal terminal at Huangpu exceeded the design capacity of the terminal as well as the appraisal estimate. Container traffic throligh the project container terminals is steadily increasing, however, it did not reach its full capacity. Except for Sh&nghai's 1988 traffic, container traf- fic was still below appraisal estimates by about IOZ in Huangpu and 502 in Tianjin as a result of the recent decline in importation through the latter port. In spite of this decline, several factors, including lower project costs and higher productivity, contributed to the overall ERR (342) being higher than the appraisal prediction (29?) with Shanghai and Tianjin achieving a higher ERR and Huangpu a lower one. Training achieved its objectives of increasing operations efficiency, and the new computer equipment resulted in better management information system. The containerization study was useful in assisting the Government to formulate its future policies in regard to containers, stress the various issues in the subsequent Bank port projects and focus the attention on che relative importance of the various transportation modes. - vii - Sustainability 8. The project is likely to be sustainable consideringt - the financial position of the three ports has substantially improved and is sound at present; - port productivity has increased moro th-n expected at appraisal; - the project - except for one crane (see para 6) - was implemented within the original timeframe; and - the World Bank continues to play an active role in the port subsector witness the five follow-on port projects. Findings and Lessons Learned The project was successful as regards its objectives, components, design and implementation in spite of the facts that: (a) container traffic was below appraisal estimates; (b) some of the equipment manufactured locally was below international standards; (c) some of the spare parts provided under the project were consumed without being replaced resulting in some of the equipment not operating as efficiently as originally hoped; and (d) final disbursement was made 15 months later as a result of procuring one additional crane. Some specific factors of success can be identified as follows: (a) Bank staff responsible for the project made a useful contribution by providing technical assistance to the executing agencies during project preparation and implementation; (b) since this was he first Bank lending operation in the ports subsec- tor in China, Bank judgement on the ability of local institutes and construction bureaus to design and construct civil works was correct based on the quality and timing of work carried out. Bank insistence on independent consultants reviewing tender documents for equipment resulted in procuring high quality equipment, however: (i) the bank should have looked more thoroughly into the ability of local manufac- turers to produce good container handling equipment; and (ii) the Bank should not have agreed to Government request to acquire the additional crane referred to in para. 6 above because that request came very late and thus resulted in significant delay in full loan disbursement. It would have been preferable to have provided finance for this additional crane in a sequential loan. In particular, the use of ICB for equipment purchase resulted in huge savings in equip- ment costs; and (c) the demonstration objective of the project has been fully achieved, resulting in better efficiency and higher productivity. In addition, the follow-on Bank-supported port projects are expected to replicate in other ports the technology and development approach experienced in this project. PEOPLE'S REPUBLIC OF CHINA THREE PORTS PROJECT. LOAN 2207-CHA PROJECT COMPLETION REPORT I. INTRODUCTION 1.1 Inadequate transportation system and shortage of energy are identi- fied as the most critical bottlenecks in the Chinese economy. The recent rapid growth of China's economy has stimulated an increasing demand for the shipment of all sorts of commodities as well as for passenger traffic. The transport system has been seriously overloaded in the last decade; capacity constraints are evident in all modes. Efforts to increase the intensity of railways, road and waterway utilization are urgently needed, and are being pursued. In addition to providing new facilities where necessary, Government strategy will have to rely mainly on incroasing the productivity of existing facilities. China also needs, in particular, to substantially expand its port facilities to relieve the growing constraint to external trade caused mainly by inadequate container handling capability. The objective of the project was thus to meet short-term requirements in China's three most important ports (Huangpu, Shanghai and Tianjin) while Government evolves a long-term strategy for meeting the country's requirements for port facilities through the remainder of the century. 1.2 China's port traffic has been 3rowing rapidly since the economy was opened to foreign trades between 1975 and 1987 traffic at the 15 major deep- water ports increased from 144 million tons in 1975 to 217 million tons in 1980 and to 366 million tons in 1987. About one third of total traffic is coal which moves mainly from northern coal loading ports for distribution through ports on the south and east coasts. Container traffic through these ports is also rapidly increasing, reaching 316,000 TEU 1/ (twenty-foot equiva- lent units) in 1987 as compared to 64,000 TEU in 1980. During the period 1981-85 port traffic growth outstripped the growth of port capacity resulting in severe congestion. At the time of project appraisal, ship waiting time for berth was 2.5 days in Huangpu, 2.3 in Shanghai and 3.4 in Tianjin; such delays are unacceptable. By 1986 congestion was alleviated as major new facilities came into service and a return to more restrictive import policies slowed the rate of traffic growth. 1.3 This project was the third Bank loan to China; it was the first in the transport sector. It was approved in November 1982, and consisted mainly of constructing additional container terminals in Huangpu, Shanghai, and Tianjin, a coal terminal at Huangpu, and handling equipment for these terminals. (Maps IBRD 15813, 15815, 15817 and 15845). The Bank continued thereafter to support the Covernment's objectives of expanding port capacities and improving productivities therein. The second project, (Tianjin Port 1/ Containers are normally 20 ft or 40 ft long. A 40 ft container is considered equal to two 20 ft containers (2 TEU). The term TEU is used worldwide in shipping and ports. - 2 - Project, Ln. 2689-CHA) is financing the construction of 11 additional berths at Tianjin for timber, construction materials and general cargo. The third project, (Huangpu Port Project, Ln. 2877-CHA/Cr. 1845-CHA), is financing the construction of five additional berths in the Xinsha area of Huangpu port for coal, iron ore, bulk fertilizer and general cargo. The fourth project, (Dalian Port Project Ln. 2907-CHA/Cr. 1875-CHA), is financing construction of a new terminal at Dayao Bay for container and break-bulk cargo. The fifth project, (Ningbo and Shanghai Ports Project Ln. 3006-CHA), is financing construction of a container berth and two general cargo berths at Ningbo as well as construction of two multi-purpose terminals comprising eight berths each, two coal handling berths and an 80,000 ton capacity grain silo at Shanghai. The sixth, (Xianien Port Project Ln. 3007-CHA) is financing construction of one container berth, two multi-purpose berths and one coal berth at Xiamen. All the above lending operations also finance associated cargo handling equipment, training, technical assistance and studies. 1.4 The Bank is supporting the Government's objectives for development of the transport sector, and its initiatives with both financial and technical assistance. Four railway projects (Loans 2394-CHA, 2540-CHA, 2678/Cr. 1680-CHA and 2968-CHA) have assisted the expansion of capacity on key routes, and the manufacture of electric locomotives, passenger coaches and signalling equipment, and provided for strategic studies for technological modernization, as well as expansion of line capacities and manufacturing facilities. Five highway projects (Loan 2539/Cr. 1594-CHA, Loan 2811/Cr. 1792-CHA, Loan 2591/Cr 1917-CHA, Loan 2952, and Cr. 1984-CHA) involve the construction or improvement of both national and rural roads. Besides these subsector-specific opera- tions, the Bank recently has begun to assist the Government in implementing projects of a wider nature. For example, a review of the utilization of water transport was completed in 1987, a comprehensive transportation study for Guangdong Province is in progress, and a provincial transport sector project is being prepared for Jiangsu Province which includes highway and inland vaterway improvements. A study of coal transportation is planned for FY89-90 to complement the recently completed study of coal pricing and an ongoing study of coal utilization. 1.5 Appraisal of the project took place in July 1981. Negotiations started in March 1982 and were completed in September 1982 and required con- siderable efforts from Bank staff during and in between three sessions (paras. 2.8 to 2.10 and para. 7.2) mainly due to China's unfamiliarity with the Bank. Since the start of project implementation, cooperation between the Government and the Bank became excellent resulting in all project objectives (paras. 2.11 and 4.8) being adequately met. They included among other things the preparation by the Government of a containerization study of the hinter- lands of the three ports to identify inland intermodal terminals, other facilities and transport equipment required to optimize the door to door transport potential of the containerization of cargo through these ports. 1.6 Total project cost was estimated during appraisal at Y 748 million or US$427.4 million equivalent of which US$125.5 million equivalent in foreign currency. The Bank loan of US$124 million equivalent, was to finance the direct foreign exchange costs of imported equipment (or the ex-factory costs of locally manufactured equipment). Civil works, training requirements r-d studies were to be financed by the Government. Bidding documents for equip- ment were prepared by MOC assisted by foreign experts financed by UNDP. - 3 - Equipment was procured by the China National Technical Import Corporation in cooperation with HOC in accordance with Bank Guidelines for Procurement. HOC was also responsible for civil works' implementation using the respective construction bureau at each port site. 1.7 Prices offered by equipment manufacturers under ICB were unusually low, especially those of the container 2/ and transtainer cranes. This was mainly because industrial countries were eager to catch an early foothold in the Chinese market which was recently opened to the foreign manufacturers. As a result of these low prices, the Government requested, and the Bank agreed. to cancel US$55.0 million equivalent on May 10, 1984 and US$1.03 million equi- valent on October 27, 1987 from the loan, thus reducing its amount to US$67.97 million equivalent. Subsequently, the project has been successfully completed in its entirety at a total cost of US$266.15 million equivalent as compared to the appraisal estimate of US$427.40 million equivalent. Due to the high interest rate of the loan (11.6Z), China has already repaid US$61.5 equivalent out of a total disbursement of US$67.97 million equivalent. At the time of appraisal, the project was scheduled for completion by December 31, 1986. Although 96Z of the project was completed by the above date, the remaining 4Z, mainly purchase of an additional container crane, were completed more than two years later. II. PROJECT FORMULATION A. Identification 2.1 At the request of the Chinese Government that the Bank assist in port improvement, an identification mission visited China in October 1980. Key issues highlighted by the mission included: (a) the ad hoc nature of port development planning undertaken at the project ports; (b) the inadequacy of local construction cost data; (c) the need for additional data before the project could be appraised; (d) the need to provide assistance to the Harbour Administration Bureaus (HAB) concerning Bank ICB procedures; (e) the need for an independent check of the design of proposed projects although designs by local institutes seemed generally adequate; (f) construction of ongoing civil works appeared reasonably satisfactory, however, supervision was insufficient; and (g) port finances appeared to be well-managed. The mission identified a project that included a coal terminal at Huangpu, container terminals at Huangpu and Tianjin (for which construction already started) and at Shanghai (for which construction was scheduled to start in mid 1981) as well as container and coal handling equipment, dredging of access channels and prepa- ration of port master plans. 2.2 MOC was to be responsible for project preparation. Items financed by the Bank, mainly equipment, were to be procured under contracts awarded based on ICB in accordance with Bank Guidelines. Civil works that had already started, were depigned by MOC, implemented by the respective Construction 2/ Container cranes procured under this project cost about US$1.5 million equivalent each whereas, during the same period, container cranes under Bank port projects in other countries cost about US$3.5 million equivalent each. Bureau at each port site, and supervised by the respective Harbor Administration Bureau's full-time engineers, and occasionally by MOC. This arrangement proved to be satisfactory. 2.3 A preappraisal mission visited China in March 1981. The mission: (a) prepared an Action Plan for Government consideration including a port development study for major Chinese ports; and (b) updated the findings of the identification mission on the basis of revised data provided by the Chinese authorities as regards project components and costs. The mission recommended that designs be checked in details either by MOC or by an independent party, supervision of works be strengthened, and assistance should be provided to upgrade dredging management and control. Based on agreement between the mission and MOC, independent British and American consultants were retained to assist MOC in the preparation of tender documents for equipment; the Consultants' services were financed by UNDP. The British consultants were responsible for equipment for the container terminals at the three ports, while the American consultants were responsible for equipment for the coal terminal at Huangpu port. The British Consultants used a group of engineers from Felixstowe Port (UK). Consultants' performance was satisfactory. B. ApPraisal 2.4 The Bank appraisal mission visited China from July 5 to August 5, 1981. The mission updated once more project costs on the basis of cost esti- mates prepared by the design bureaus for civil works, and on world prices for the equipment involved. The project cost, including contingencies, technical assistance, training and long-term port development studies was estimated at US$427 million equivalent, of which US$135 million equivalent in foreign currency. The Government decided to finance all civil works costs from its own resources and consequently requested that the Bank finance only the foreign exchange cost of the equipment to be procured under the project. That decision was based on MOC recognizing the complications involved in applying ICB procedures for civil works at that stage, especially since at the time of appraisal, civil works were already under construction. The mission reported that (a) MOC was reluctant to have the long-term studies included in the proposed project description regardless of the financing source; (b) HOC contemplated entering into a loan agreement with the Bank but did not consider Project Agreements with the project ports to be desirable; and (c) HOC preferred that it select, control and monitor the source, scope and duration of the technical assistance. In addition, the mission reported the following difficultiesT (a) information on cost of specific operations within the three ports and on intermodal railwaylport aspects were incomplete; and (b) there was a clear hesitation on the part of the ports, MOC and the Ministry of Railways to provide anything but historic data on basic assumptions underlying projections and estimates provided by the three ports. 2.5 While in China, the appraisal mission discussed procurement issues with the Communication Bureau of the State Capital Construction Commission (SCCC). These includeds (a) access to labor in civil construction; (b) access to local materials; (c) participation in tenders; (d) foreign person- nel; (e) arbitration; and (f) price escalation. - 5 - 2.6 A post appraisal mission visited China in November 1981 to review with MOC various outstanding matters necessary to complete appraisal and in particulars (a) collect more information on the China National Arbitration Council (CNAC); (b) discuss Government training proposals; (c) obtain further information from MOC on its past and planned efforts to study the problems of ports and estuaries; (d) investigate the legal aspects of the proposed project including the degree of autonomy enjoyed by the HABs as well as review their charters; and (e) assess the unequivalent need for a project agreement or agree to an alternative acceptable mechanism. The mission's findings and recommendation were subsequently included in the Yellow and Green Cover Reports. C. Negotiations 2.7 Negotiations were difficult and time consuming mainly because China was unfamiliar with the Bank's role as a development institution. Originally the Bank invited the Government for loan negotiations in Washington starting January 11, 1982. However, negotiations were postponed at Government request to allow for a Bank pre-negotiation mission to visit China and discuss the Green Cover Staff Appraisal Report, the draft President Report and the draft Loan Agreement. The visit took place in February 1982 and although discus- sions seemed to have been tough, they were successful in clarifying to Government a number of points in the documents, and in identifying the major issues that needed to be resolved during negotiations. However, it was clear that the Governments (a) wanted to limit as much as possible the Bank's role in development strategy and that its position on this matter goes beyond the confines of the port project; and (b) viewed this project, and the conditions surrounding it, as setting a precedent which would apply to other projects for some years to come. 2.8 Negotiations started in Washington on March 12, 1982 and continued through March 22, 1982; they were suspended at Government request mainly as a result of problems encountered in the following areas: (a) project definition: the Chinese insisted on a narrow project defini- tion consisting only of the components to be financed by the Bank; (b) studies: the Chinese were extremely reluctant to any studies being carried out in the near future; and (c) cofinancings the Chinese refused the offers from Norway and Sweden. There was seemingly general unwillingness on the Chinese side to seek cofinancing in Bank-financed projects. 2.9 Later, negotiations were resumed in Beijing from April 29 to Hay 15, 1982 without sufficient progress that would allow resuming formal negotiations of the proposed loan. The fundamental problem was the access to, and breadth of, information which would be shared with the Bank. It should be emphasized that during project appraisal, the Government provided the Bank with informa- tion about the operations and finances of the whole of the three ports, how- ever, afterwards, the Government took a firm position not to commit itself, formally and in a legal binding way, to continue to give the Bank such broad - 6 - access to information about matters not directly related to project invest- ments. The Government was thus only ready to provide full information on the Cargo Handling Corporations (CHCs) which would operate the project facilities. 2.10 During the period May to September 1982, the Bank and the Government exchanged several telexes with the objective of amending the draft legal docu- ments in a manner that would satisfy both parties. When this was achieved, negotiations, in their third session, were resumed in Washington startti-g September 14, 1982 and were successfully completed on September 16, 1982 for a proposed loan of US$124 million equivalent with an interest rate of 11.6Z and a closing date of June 30, 1987. During negotiations the Government agreed to Bank recommendation as regards certain studies, and the Bank agreed to Government views that limits information to be provided by the three ports to those directly related to facilities and equipment included in the project. This did not have any adverse effect on project implementation or supervision. In fact, the Government undertook, under the follow-up Bank-financed port projects (para. 1.3), to provide the Bank with all data related to the whole port, including financial, operational, managerial... etc. data. Agreements were reached during negotiations on project components as set in the SAR (para. 2.12(a) and (b), training (para. 2.12(c) and studies (para. 2.12(d)), as well as the financial and technical covenants (Annex 2). The loan was approved by the Board on November 2, 1982 and the legal documents signed on November 16, 1982. The loan became effective on February 2, 1983. D. Proiect Objectives and Description 2.11 The main objective of the Government's five-year national economic development plan for the period 1982-86 was to promote investments in the transport sector that would prevent the sector from becoming a serious bottle- neck to the country's economic development. Since ports have a special position not only in the transfer of resources between North and South China but also as the gateways to foreign markets and to foreign sources of equip- ment and technology, the Government, in fulfillment of the above objective, has approved major investment programs at the three project ports of Huangpu, Shanghai and Tianjin for the modernization and expansion of facilities. Thus, the objective of the project was to meet short-term requirements in those three most important ports of China while Government evolves a long-term strategy for meeting the country's requirements for port facilities through the remainder of the century. Coal handling facilities in Huangpu, and container handling facilities in Huangpu, Shanghai and Tianjin were accorded high priority in the five-year plan. Consequently, their modernization and operational efficiency improvement were considered vital parts of the project. Also, in preparation for future investments the project included a containeri- zation study of the hinterlands of the three ports. All above objectives have been adequately met except as regards the quality of the above and the imple- mentation of its recommendations (see Annex 2). 2.12 The principal components of the project were: (a) Huangpu Coal Terminal (Map 15817): (i) construction of a 440 m long deep water berth capable of accom- modating two coal carriers of up to 35,000 dwt each, a 400 m shallow draft berth for loading coal in barges, auxiliary buildings, and infrastructure; (ii) reclamation of the area required for the stockpile yard and paving of roadways; (iii) dredging in front of the coal berth and the barge berth to the required depth; (iv) procurement of coal handling equipment; and (v) design and supervision of construction. (b) Huangpu, Shanghai and Tianiin Container Terminals (Maps 15845, 115815 and 15813); (i) deep water container berths 470 m long at Huangpu and 890 m long at Tianjin, (construction of both started before project appraisal) and 424 m long at Shanghai; (ii) reclamation, consolidation and paving of the area required for the container stacking yards; (iii) dredging of the basins in front of the berths to the required depth; (iv) construction of railway container freight stations (CFSs), road- way CFSs and the rest of the required ancillary buildings and infrastructure; (v) procurement of computer and container handling equipment; and (vi) design and supervision of construction. (c) Training (i) training of personnel in operating procedures for the coal terminal at Huangpu, and the container terminals at Huangpu, Shanghai and Tianjin; and (ii) training of personnel for the establishment of computerized management information systems for corntainer operations in Huangpu, Shanghai and Tianjin; (d) Studies (i) carrying out a containerization study of the hinterlands of the ports of Huangpu, Shanghai and Tianjin; and (ii) carry out a study of the annual operating costs during at least the first year of operation of the facilities constructed under the project in each of the three ports. 2.13 The Bank loan was expected to finance-I computer equipment and coal and container handling equipment. Civil works design, construction and super- vision, training and studies were expected to be financed by the Government. III. PROJECT IMPLEMENTATION AND COSTS A. Project Implementation 3.1 Implementation of all civil works was the responsibility of MOC using the respective Navigation Engineering Construction Company (NECC) 31 in each port as its contractor. Construction was supervised by the respective Harbour Administration Bureau (HAB) using full-time engineers with the overall super- vision provided by MOC. This arrangement proved to be satisfactory and the quality of the finished works was good. Civil works were all financed by the Government on the bases of direct orders to the appropriate NEC. Construction was completed on schedule as shown in Charts 3.1 to 3.4. Minor problems were encountered during construction and were dealt with in due time without loss of time or additional cost. Such problems are usually encountered in port projects of this type and magnitude. In particular the soil condition at Tianjin container terminal was known to be weak; however, because of the adequate design made by the First Navigation Engineering Design Institute and the good work carried out by the First Navigation Engineering Construction Company, consolidation of soil was excellently done and no settlement has occurred at the container stacking yard during the past three years since construction completion. 3.2 Cargo handling equipment was grouped in appropriate bidding packages by MOC and procured by the China National Technical Import Corporation (CNTIEC) in collaboration with MOC. CNTIEC, which is an independent body not under MOC, was assisted in the preparation of tender documents by British and American consultants agreed with the Bank. Tender documents were prepared in accordance with the Bank Guidelines for Procurement under ICE and were reviewed by the Bank. They were published in May 1983, bids were received in July 1983 and suppliers were chosen in September 1983. All contracts, except that for computer equipment, were signed before the end of 1983. Qualifying domestic manufacturers received a preference in bid evaluation of 152 of the cif price or the import duty whichever was the lower. Table 3.1 gives details of equipment purchased under the original tender, and dater of delivery. 3.3 Prices offered by the manufacturers for the supply of equipment were about 60? lower than the appraisal estimate. This was mainly because of the fierce competition among producers in industrialized countries, in particular Japan, to gain an early foothold in the Chinese market which seemed, at that time, to have large potential for foreign suppliers. This special circum- stance of such low prices may not be repeated in the future.4I Manufacturers 3/ Previously called Construction Bureaus. 4/ The price of the additional container crane referred to in para. 3.11 was 60Z higher than the price of container cranes purchased previously for this project. from China, USA, UK, Japan, Germany, Sweden, Italy, Australia, Yugoslavia, Belgium, New Zealand, Hong Kong, Romania, Finland and Hungary submitted bids (see Table 3.1 for awards). In addition, since the original contracts amounted to about US$50 million equivalent as compared to the Bank loan of US$124 million equivalent, the Bank agreed to Government request to cancel US$55 million from the loan and to purchase additional equipment needed for the three ports totalling about US$18 million equivalent. During the preparation of this Completion Report, the Government as well as representa- tives of each port, expressed their appreciation for the benefits of the international competitive bidding, not only because of the lower prices offered but also as a result of the quality of foreign equipment being much superior to those manufactured locally. 3.4 During tests carried out to assess the durability and efficiency of the equipment, certain equipment showed some defects mainly as a result of incorrect welding, leakage of oil and defective electrical systems. In parti- cular, the two container cranes financed by the Government for Huangpu port and built in Shanghai in 1982 as the first Chinese model encountered major problems. These two cranes were not part of the project. In general, the local and foreign suppliers of project equipment carried out all necessary repairs during the guarantee period, however, some minor equipment is still not performing completely satisfactorily. The situation is aggravated by the fact that a big percentage of spare parts provided under the project for equipment manufactured outside China has been consumed since equipment was purchased. The ports reported in their reports on project implementation experience that they were unable to buy additional spare parts on their own because of China's rigid and restrictive purchase procedures. Measures proposed to be taken by the Bank to overcome this situation are outlined in para. 7.3. 3.5 The containerization study (para. 2.12(f)) of the hinterlands of the three ports to identify inland intermodal terminals, other facilities and transport equipment required to optimize door to door transport potential of the containerization of cargo through these ports was carried out on schedule and was completed on December 31, 1984. Conclusions of the study as well as its weaknesses are given in Annex 1. However, the operating costs study was delayed until financing became available from the Japanese Grant Agreement in 1989 as part of the subsequent Ningbo and Shanghai Ports Project. B. Training 3.6 Training under the project was financed by the Government. The program was agreed with the Bank and proved to be adequate. It introduced new technology to the staff and labor and enabled the ports to handle efficiently modern equipment for unloading/loading containers and coal. However, training as envisaged, was limited to technical staff and operational people. This should be rectified in future projects by providing training to financial managers and economic planners. Training outside China was carried out mainly in Japan as arranged by MOC and equipment suppliers, and concentrated on operating and maintaining container handling equipment and computer equipment. In addition, two groups, each consisting of 20 men, were sent to Antwerp for - 10 - 75 days, one in March 1984 and another in July 1986, to be trained in opera- tion of container terminals in lieu of inviting foreign experts to conduct courses in China. Training in China was carried out on the job and through local training centers and technical institutes. Computer operators in the three ports were trained in Japan and their training was completed on schedule by December 31, 1986. 3.7 As stipulated in the SAR, the Japanese manufacturer of the coal handling equipment for Huangpu trained 20 people on the job; the latter acted thereafter as trainers. Other technicians and skilled labor (crane drivers, ship-loaders etc.) were trained on similar equipment in different coal terminals in China. 3.8 In Shanghai port, staff and workers were trained mainly as follows: (a) drivers, skilled labor and stevedores for three to six months in the newly constructed Shanghai Harbor Workers Training Center which started operation in August 1986; (b) repair and maintenance people for two years in the Shanghai Harbor Special School; and (c) senior engineers and management and administra- tion staff (about 100 every year) for three year courses in Shanghai Harbor College. The above training program exceeded that stipulated in the SAR. 3.9 In Tianjin port, staff and workers were trained as follows: (a) drivers and repair and maintenance people in TPA's Technical School (about 200 annually); (b) technical, administration and management staff in TPA's Special Profession School; and (-) civil, mechanical and electrical engineers and computer specialists in China Center Television Education Program which accepts candidates from all over China. The Tianjin Port Development Center started operation in 1987 and includes a technical school, workers training school and a television education school. The above training program also exceeded that stipulated in the SAR. C. Proiect Costs and Loan Disbursement 3.10 During appraisal, the project was estimated to cost Y 748.2 million (US$427.4 million equivalent at a rate of exchange of US$1 - Y 1.75). The actual cost was Y 651.7 million (US$266.1 million equivalent on the bases of rates of exchange prevailing between 1982 and 1988). The main reasons for the lower project cost were: (a) the unusually low bid prices for equipment; anf (b) the devaluation of the Yuan from US$1 = Y 1.75 in 1982 to US$1 - Y 3.722 in 1986, 1987 and 1988. Details of the comparison between the appraisal estimate and the actual costs (including design, supervision, training. customs duties and contingencies) are given in Table 3.2 and are summarized below: - 11 - Y million US$ million Port Appraisal Actual la Appraisal Actual /a Huangpu 262.2 215.3 149.7 85.9 Shanghai 159.7 158.0 91.3 62.5 Tianjin 326.3 278.4 186.4 117.7 Total 74d.2 651.7 427.4 266.1 /a Including the additional equipment referred to in para. 3.3 above. 3.11 Actual disbursement as compared with the appraisal estimate is given in Table 3.3. Disbursements lagged behind the original schedule as a result of Government delays in submitting applications for disbursement. The closing date was extended from June 30, 1987 to June 30, 1988 to allow for the purchase of additional equipment. Actually 98.82 of the reduced loan was disbursed by the original closing date. The remaining 1.2? of the loan was disbursed in March 1989 to cover the last payment on an additional container crane for Huangpu port. The crane was not included in the original project list of goods but could be purchased thanks to the savings on the rest of the equipment purchases (para. 3.3). Due to the relatively high interest rate of the loan (11.6S), China has already repaid US$61.5 million equivalent out of a total disbursement on March 31, 1989 of US$67.97 million equivalent. IV. INSTITUTIONAL PERFORMANCE A. Organization and Management 4.1 At the time of project appraisal and loan negotiations all the three ports were under MOC. On January 1, 1985 Tianjin was put under the Municipality of Tianjin and was granted technical and managerial independence and an acceptable degree of financial autonomy. However the State Planning Commission (SPC) and MOC are still responsible for long term planning as well as the authority of revie"ing and approving any major investment project that would cost more than Y 30 millicn (para. 5.2). Shanghai and Huangpu became independent from MOC on January 1, 1986 and January 1, 1987 respectively but with somewhat lesser degree of decentralization than Tianjin; details are given in paras. 5.1 and 5.2. 4.2 On January 1, 1987 Huangpu port was granted independence from MOC and was put under the Municipality of Guangzhou City. On December 18, 1987 Huangpu port and Guangzhou port (which was always under the Munici;ility) joined together under one organization called the Guangzhou Harbour Bureau (GHB). - 12 - 4.3 The Director of each of the three ports as well as his deputies are now appointed by the respective Municipality after consultation with MOC. Originally each port used to pay its surplus income to the State which in turn financ4d 100S of capital investments on a grant basis. Now, SHB psys Y 11.32 million annually to the State, Shanghai Port Bureau (SPB) pays Y 72.55 million annually to the State up to year 1990 and Tianjin Port Authority (TPA) pays nothing. The three ports now keep the balance of their income; they finance their major expenditures without any assistance from MOP. The effect of decentralization on the financial position of each port is detailed in para. 5.5. Decentralization seems a step in the right direction and has its merits but it is early to judge its effect on the efficiency of port opera- tions and the financial position of port enterprises especially since: (a) decentralization is in effect only up to end of 1990 after which date the State will reassess the degree of decentralization to be given to each indivi- dual port; and (b) ports do not set their own tariffs. Decentralization as now stauds could be improved by allowing the ports to set their own tariffs in order to be able to meet their cash flow requirements and compete on the basis of quality of services and the cost of providing them (para. 7.6). B. Traffic 4.4 Overall traffic is increasing rapidly in the three ports as shown in the following table. Actual traffic for 1985 compares favorably with the appraisal forecast for that year. Actual traffic for 1987 was almost the same as the SAR forecast for 1990 except for Tianjin. Actual Total Traffic and SAR Forecast (million tons) Year Huangpa Shanghai Tianjin 1960 N.A. 42.7 5.0 1965 N.A. 31.9 5.4 1970 N.A. 39.9 8.2 1975 7.0 55.8 8.5 1980 12.1 84.8 12.0 1985 16.8 (16.5)/a 112.9 (103.0) 18.5 (16.3) 1986 19.6 126.0 18.2 1987 27.7 128.0 17.3 lb 1988 41.3 133.0 21.1 1990 N.A. (27.0) N.A. (125.0) N.A. (22.4) /a Figures between brackets are SAR forecasts. The SAR did not give traffic forecasts for 1986 to 1988. /b Decline as a result of decrease in importation through Tianjin port in 1986-88. Huangpu new coal terminal unloaded 4.17 million tons of coal from coal carriers in 1988 as compared to the SAR forecast as well as the terminal's - 13 - design capacity of 4.0 million tons, and as compared to that handled during 1987 of 1.78 million tons. About 80Z of the coal was reloaded in barges and 20S on railway wagons and trucka. The Huangpu container terminal handled 83,613 TEU in 1988 as compared to 57,479 TEU in 1987. Shanghai container terminal (the project berths) handled 167,000 TEU in 1988 as compared to 118,000 TEU in 1987. Tianjin container terminal (the project berths) handled 118,986 TEU in 1988 as compared to 80,294 TEU in 1987. Although container traffic through the project container terminals did not reach its full capa- city, it is steadily increasing, but was still below appraisal estimate in 1988 by about 102 in Huangpu and 501 in Tianjin as a result of recent decline in importation through Tianjin port due to changes in trade policy of the Government. The impact on the project of the actual traffic being less than the SAR estimate is demonstrated in Chapter VI. Details of container traffic through container terminals provided under the project are given below: CONTAINER TRAFFIC THROUGH PROJECT CONTAINER TERMINALS Actual (TEU) Tonnage (t) Year Full Empty Total Actual Appraisal Huangpu Port 1986 30,708 21,353 52,061 352,398 600,000 1987 40,754 16,725 57,479 495,742 835,000 1988 57,006 26,607 83,613 750,000 835,000 Shanghai Port 1986 62,000 21,000 83,000 925,000 1,400,000 1987 79,000 20,000 99,000 1,207,000 1,700,000 1988 105,000 22,000 127,00 1,757,000 1,700,000 Tianjin Port 1986 55,363 23,551 78,914 685,297 1,700,000 1987 62,164 18,130 80,294 726,527 2,100,000 1988 95,176 23,810 118,986 1,189,231 2,500,000 Container traffic through all berthing facilities in each of the three ports is given in Table 4.1. C. Productivity 4.5 Operating productivity of all facilities provided under the project is good. The followin, table gives certain performance indicators for 1988; these compare favorably with international standards: - 14 - -------------------------- Terminal --------------------- Huangput Coal Huangpu Cont. Shanghai Cont. Tianjin Cont. Berth Occupancy 77/a 70/b 65 70jb TEU/cranelhour -- 20/c 20/c 2G/c X of crane availability 100 701d 95 98 Z of crane usage 62 30 35 2Ole Containers in port (days) -- 23/f 11 15 /a As compared to SAR requirement of 652. Actual occupancy rate for barge berths reached 100o. /b As compared to SAR requirement of 502. Container berths in Huangpu and Tianjin were used also for general cargo. /c Same as SAR requirement. /d One of the cranes financed by the Government and manufactured locally has been always idle waiting for repairs. Le Traffic has not yet reached full capacity. !f Long stay in port is due to inadequate feeder train services needed to evacuate containers intended for the interior (70Z). The remaining 30? intended for the city stay in the port 7 to 10 days which is acceptable. 4.6 Importers still tend to use the port not only as a transit area but also as a storage facility until the cargoes are actually needed. Thus they keep the containers on the stacking yards in the three ports for excessive periods. One of the main reasons for this unacceptable situation is that the container storage fee is unrealistically low.5/ Bank supervision missions drew MOC's and MOP's attention to this on several occasions but the situation remained the same. The other reason is the inadequacy of intermodal transpor- tation capacities, in particular those of the railways and highways, needed to evacuate the containers to the interior hinterland as quickly as possible. The benefits of containerization are therefore not fully realized resulting in significant loss to the economy. Urgent measures are thus needed to improve rail and road networks serving the ports. This became more imperative in light of the heavy investment in port projects and the recent decentralization granting more autonomy to the ports. D. Performance of the Bank 4.7 Performance of the Bank as regards project objectives, components, design and supervision was adequate. In particular, the Bank's supervisory effort was good as a result of maintaining continuity under the same staff; this contributed largely to the project being problem free. However, the Bank should have not agreed to Government's request to use the loan surplus to purchase the additional container crane (para. 3.10) because that request came 5/ Four days free for inbound containers and zero for outbound ones, then a fee of US$1.3 per day per container up to day 14 after which date the port can move the containers out but almost never do so. - 15 - very late and resulted in major delays in loan disbursement. During prepara- tion of this Completion Report, MOC and the managers of the three ports expressed to the Bank's mission their appreciation for the technical assis- tance provided by Bank staff who participated in project preparation and implementation. They reiterated thats (a) cooperation with the Bank has been excellent; (b) they benefitted very much from the visits of the Bank super- vision missions, however, they prefer that those visits would have been at shorter intervals; about six months between visits; (c) disbursements were on time without undue delays; (d) they appreciate the benefits of international competitive bidding for equipment purchase; and (e) they consider project completion reports an excellent tool to judge the soundness and justification of each project and to learn the lessons derived from it. E. Performance of the Borrower 4.8 Loan negotiations were time consuming and required considerable effort from Bank staff mainly as a result of China's unfamiliarity with the Bank. However, the atmosphere thereafter was relaxed and cooperation with the Bank was good. Except for carrying out a study of the annual operating costs of each port (para. 3.5), the Government fulfilled all its obligations under the Loan Agreement; these were mainly standard ones (see Annex 2), and already repaid US$61.5 million equivalent ahead of schedule out of a total loan of US$67.97 million equivalent (para. 3.10). The Government responded to Bank recommendations as regards employment of experts to review tender documents for equipment, ICB, training and studies. Each of the three ports prepared and submitted to the Bank parts of the required project completion report concerning project implementation experience in their respective ports. The success achieved under the project is to a large extent attributed to the high degree of commitment at all levels of Government to the project, especially as a result of their active participation in project planning, design and imple- mentation. F. Performance of Contractors, Equipment Suppliers and Consultants 4.9 The Government and the Bank are satisfied with the performance of: (a) the local institutions that were responsible for project design as well as the local contractors that were responsible for construction of civil works; this judgment is supported by the quality of work produced and the time taken for its completion; (b) the foreign suppliers of equipment, the degree of efficiency of this equipment, and the on time repair of defects discovered at the guarantee periods and even thereafter; and (c) the consultants who reviewed tender documents for cargo handling equipment. The Government expressed its disappointment for the quality of some equipment provided by local manufacturers and undertook to take the necessary measures to improve their production in future, including encouraging the creation of joint ventures with foreign manufacturers. This is a step in the right direction. It also expressed its intention to use foreign consultants in future as will be needed. - 16 - V. FINANCIAL PERFORMANCE A. Decentralization 5.1 At the time of appraisal, the HOC controlled these three ports at the State level, but during project implementation, the management and financial administration of the three ports was decentralized from the State to the local Municipal Government. Under the new arrangements, authority for administering each of the ports is placed under the dual leadership of the State and municipal government. The municipal government assumes most of the responsibility through the port authority, which handles day to day manage- ment, operation, construction, and development of the port. However, major projects or plans affecting the long-term development of the port still are approved by the State through MOC, although the port bears the financial obli- gations for its own development. Until decentralization, individual ports were unable/not authorized to provide information on theLr respective ports or discuss broader issues (para. 2.4). To successfully intagrate the administra- tion and development of the port into the municipal government without placing a financial burden on the latter, a financial restructuring of the port was carried out. This restructuring served to enhance the internal cash genera- tion of the port by reducing or, in the case of Tianjin, eliminating the port's tax obligations and its contributions to the Government. 5.2 The managerial and financial restructuring was applied differently to each of the three project ports. The following table summarizes the key financial terms for each port along with the size of its project that needs State approval. - 17 - Date of Decentral- Size of Project Major Financial ization Needing State Approval Terms to the Port Tianiin Port January 1, 1985 Rehabilitated projects a. Exempt from all taxes, over 30 million Yuan funds, and depreciation payments to the State New projects over until the end of 1990. 10 million Yuan Shanghai Port January 1, 1986 Projects over 30 million a. The annual income and Yuan adjustment tax payments to the State are replaced by an annual lump sum payment of 51.55 million Yuan until the end of 1990. b. Flat annual payments of 20 million Yuan are made to the State of energy and transport funds and a construction tax of one million Yuan is paid until the end of 1990. Huangpu Port la January 1, 1987 Projects over 30 million a. The annual income and Yuan adjustment tax payments to the State are replaced by an annual lump sum payment of 1.87 million Yuan until the end of 1990. b. Flat annual payments of 9.39 million Yuan are made to the State of energy and transport funds and a construction tax of 0.06 million Yuan is paid until the end of 1990. /a Huangpu Port was merged with Guangzhou Port on December 18, 1987 and given the new name of Guangzhou Harbour Bureau (GHB). For purposes of compari- son with the SAR, all the figures used in this report cover only the area of the Huangpu Port. - 18 - B. Past Performance 5.3 The financial performance of the three project ports for the six years ended in 1986 has been very good and far better thaa the results which were forecasted during appraisal. During this period, operating revenues grew at average annual rates of 18? for the three ports compared to forecasted rates of 4Z. Since the total volume of traffic handled at the three ports during this period was not very different from the levels forecast at appraisal (para. 4.4), (except in 1986 due to lack of forecast data), the difference between forecast and actual results must be attributed to the port charges. The forecasts were developed at a time when the country had a policy of controlling prices at the state level and, as a result, price increases were rare. In addition, the country had for the previous three decades experienced very minor price changes due to inflation, and there was no indi- cation that either operating control of the ports or the rate of inflation would change in the near future. Therefore, the financial forecasts presented in the appraisal assumed that: (a) the port charges would remain almost constant; and (b) the rate of inflation would be minor. These assumptions, although reasonable at the time, now appear very conservative due to a series of unforeseen changes. Starting 1985, MOF revised its policy of port users' charges to raise additional capital for renovation of the port sector. The effect of the policy on the project ports was to increase cargo loading/ unloading charges mainly on foreign ships. Between December 1985 to August 1986, there were four revisions making a total increase of 114?. In addi- tion, the rapidly growing economy resulted in a higher rate of inflation than had been predicted during the appraisal. During the same period, an average allowance of 0.4? was made in the revenue forecast in the SAR compared with 4.4? real average annual increase. The combined effect of the realized traffic hikes and much slower inflation on revenues can be seen in the average per unit revenue for the three ports which increased at an average rate of 12.72 (compared to a negligible increase forecast in the SAR). The highlights of selected years for the actual financial results of the three ports as compared with the forecast in the SAR between 1981-86 are summarized below. No SAR forecast was given for 1987 and 1988, but the actual and estimated financial results given by the three ports for these two years are reported in Table 5.1. - 19 _ ---- 1980 ---- ---- 1981 ---- ---- 1985 ---- ---- 1986---- (Million Yuan) Actual Actual SAR Actual SAR Actual SAR Huangpu Port Operating revenue 56.59 66.0 56.7 143.7 73.6 168.6 79.6 Operating expenditure 30.74 33.6 32.0 57.6 48.0 78.2 53.2 Operating profit 25.85 32.4 24.7 86.1 25.6 90.4 26.4 Return on average net fixed assets (Z) - 12.7 10.2 22.9 8.7 19.7 6.3 Working ratio 40.6 43.8 41.3 29.3 44.0 35.7 41.8 Operating ratio 53.0 49.5 55.1 37.8 61.6 44.4 62.9 Shanghai Port Operating revenue 263.06 279.8 240.2 567.0 291.9 623.1 305.0 Operating expenditure 139.08 133.0 133.6 222.3 164.6 273.2 174.0 Operating profit 123.98 146.8 106.6 344.7 127.3 349.9 131.0 Return on average net fixed assets (2) - 27.0 20.5 44.7 21.7 42.3 20.3 Working ratio 45.4 39.7 46.8 34.5 43.1 38.4 42.0 Operating ratio 51.5 46.0 54.3 37.0 51.8 41.8 51.6 Tianjin Port operating revenue 80.4 96.7 82.2 258.8 113.0 286.3 121.9 operating expenditure 44.4 47.7 46.8 100.3 70.4 112.7 78.2 Operating profit 36.0 49.0 35.4 158.5 42.6 173.6 43.7 Return on average net fixed assets (Z) /a - 12.5 11.0 24.1 10.6 21.7 7.7 Working ratio 46.2 39.0 50.6 33.5 52.6 31.5 52.3 Operating ratio 53.9 47.8 55.7 36.7 58.4 37.2 59.7 /a It should be noted that the asset base is substantially under valued at historic book values. 5.4 At the same time that the ports were realizing significant price increases, the management was carefully controllinRoperating costs. Since the growth rates of operating costs were less than the growth rates of revenues, the profitability of the three ports, as measured by the working ratio, the operating ratio and the rate of return on average net fixed assets in opera- tion, improved dramatically. Actual unit operating revenues for all commodi- ties during 1980-88, show an average increase of 3.32 p.a. for Huangpu port, 9.32 p.a. for Shanghai port, and 9.22 for Tianjin port. Within the same period, unit operating costs only increased by 1.82 p.a., 7.6Z p.a., and 5.42 p.a., respectively. Increases in average unit handling costs, a major item in unit operating costs, were even less than increases in revenue and in overall - 20 - unit operating costs. Actual increases in unit handling costs were 0.42 p.a., 4.6Z p.a., and 2.92 p.a. for the three ports, respectively. The improvement in productivity of the three ports is the result of the decentralization of management and administration of the ports. This move provided a great deal of incentive to the port authorities by encouraging each working unit of the port to fully utilize existing facilities through linking part of salary pay- ments (namely cash bonus) to productivities. A comparisons of the actual and SAR forecast operating results for the three ports is presented in the following table: Av-rage actual S 1980 c 1987 1988 growth p.s. IW-t ratuI1 SAR Xctual TWM. (1980-1988) Hunngpu Port 1. Traffic (at) 12.1 16.8 16.5 27.7 41.3 16.6 2. Unit revenue (Yuan/ton) 4.9 8.6 4.5 7.6 8.1 8.8 8. Unit coat (Yuan/ton) 2.4 3.1 2.6 3.3 2.8 1.8 Handling (Yuan/ton) 1.8 2.1 2.0 2.2 1.9 0.4 4. Unit profit (Yuan/ton) 2.1 6.1 1.6 8.9 8.1 4.7 S. Total revenue (million Yuan) 66.6 148.7 73.6 206.4 251.0 20.6 6. Total cost (million Yuan) 29.2 52.4 41.1 90.4 114.8 18.7 Handling (mlillon Yuan) 22.3 34.4 88.6 46.9 37.0 17.1 7. Total profit (million Yuan) 26.8 86.1 26.6 108.6 127.3 22.1 Shenchat Port I Traffic (1) /b 69.8 81.8 76.7 99.4 95.9 4.1 2. Unit rovenue uan/ton) 8.8 6.9 8.8 6.5 7.8 9.8 8. Unit coat (Yuan/ton) 1.9 2.6 1.8 2.7 8.4 7.8 Handling (Yuan/ton) 1.1 1.2 1.0 1.4 1.6 4.6 4. Unit profit (Yuan/ton) 1.6 4.2 1.7 8.5 4.1 10.8 S. Total revenue (million Yuan) 268.0 687.0 291.9 649.9 742.7 18.9 6. Total cost (million Yuan) 181.4 202.4 186.8 284.1 826.4 12.8 Handling (million Yuan) 77.6 99.9 79.0 186.4 165.9 8.9 7. Total profit (million Yuan) 124.0 844.7 127.8 848.9 889.06 15.4 Tli]In Port I Traffic (at) 11.9 18.8 16.8 17.3 21.1 7.4 2. Unit revenu- (Yuan/ton) 6.7 18.9 7.0 14.4 13.6 9.2 8. Unit cost (Yuan/ton) 3.6 5.0 3.7 6.3 6.4 5.4 Handling (Yuan/ton) 2.3 2.6 2.8 3.8 2.9 2.9 4. Unit profit (Yuan/ton) 8.0 8.6 2.6 7.6 7.8 12.6 5. Total revenue (million Yuan) 80.4 258.8 113.0 248.8 287.6 17.3 6. Total cost (million Yuan) 42.1 91.8 59.8 109.0 118.0 18.2 Handling (million Yuan) 27.5 46.0 42.8 57.1 61.0 10.6 7. Total profit (million Yuan) 86.0 168.5 42.6 131.1 164.7 20.9 a Actual. Traffic handled by SPB only. 7 Traffic forecast In the SAR ends In 1985. All figure are rounded. - 21 - 5.5 The actual total funds flows between 1981-86, show substantial increases for Huangpu and Tianjin ports, and to a lesser extent for Shanghai Port compared with the SAR estimate. The substantial increases of capital inflows and outflows for Huangpu and Tianjin ports are the result of the second follow-on project for those two ports, and the preferential terms to Tianjin port after decentralization (para. 5.2). The actual results of funds flows for the three ports also show a better performance than the SAR esti- mate. These results are largely due to consistent tariff increases and excellent cost control measures (para. 5.3 and 5.4). Detailed statements are shown in Table 5.3 and are summarized briefly as follows: Huangpu (1981-86) Shanghai (1981-86) Tianjin (1981-86) (million Yuan) Actual SAR Actual SAR Actual SAR Total sources 535.54 222.07 960.35 889.22 945.43 322.40 Total applications 524.95 225.54 823.93 908.20 867.19 321.10 Net funds flow 10.59 -3.47 136.42 -18.98 78.24 1.30 Open balance 17.52 17.52 55.00 55.00 10.49 10.49 Closing balance 28.11 14.05 191.42 36.02 88.73 11.79 5.6 The total volume of traffic handled at the three ports during 1981-85 was not so different from the SAR forecasts. However, the profits for each of the ports were higher than predicted due to the financial restructuring after decentralization and the tariff increases. Because net fixed assets were not revalued, a higher rate of return was achieved on average net fixed assets, especially in the case of Shanghai port. C. Present Financial Position 5.7 The financial position of the three ports was sound at the end of 1988. Current assets substantially exceeded current liabilities, particularly in the Huangpu and Tianjin Ports. All three ports had a high percentage of net current assets in the form of cash or the equivalent; at Huangpu port it was 85.4Z, at Shanghai port, 68.3Z, and at Tianjin port, 83.9Z (Table 5.2). The salient points of the balance sheets are as follows: - 22 - Huangpu Shanghai Tianjin (1988) ------------Million Yuan------------------ Net Fixed assets 617.2 1,279.3 1,300.0 Current assets 156.3 243.9 131.1 Special fund assets 24.5 301.5 139.6 Total 798.0 1,824.7 1,570.7 Equity 484.3 849.7 1,281.0 Port development funds 35.3 167.8 - Long-term debt 143.2 83.9 33.0 Current liabilities 31.9 232.1 30.0 Special funds 103.. 491.1 226.7 Total 798.0 1,824.7 1,570.7 5.8 Under the present financial arrangements, the three ports enjoy a very healthy range of liquidity, leverage, and profitability ratios (Tables 5.1-5.3). However, the new responsibilities of the ports for financ- ing their capital programs themselves have not yet had much impact on cash flows; these will weigh more heavily in the future. In addition, the current preferential tax terms granted by the government will expire in 1990 and it is not yet clear whether future terms will be favo'able to the ports. Therefore, new financial terms (para. 5.2) will have to be established to forecast the funds flow and balance sheet items after 1990. There are many scenarios to chose from, and it is essential for the ports to prepare and to make available more qualified personnel to carry out theses kinds of scenario analysis once the offer of the State is known (para. 7.7). VI. ECONOMIC REEVALUATION 6.1 The economic analysis presented in this report is based on a reevalu- ation of data on traffic, operational performance, economic cost, and project benefits at each project facility since the SAR estimates were made. The revised information on traffic is based primarily on the updated traffic figures used in new projections for the Bank-financed follow-on port projects that have been appraised after the Three Ports project. The methodology used in the economic analysis for this PCR is similar to that used in the SAR and is summarized below. Briefly: (a) capital investment and maintenance costs have been revised to 1988 prices and included in the costs stream; (b) the benefits stream, also in 1988 prices, consists of savings in port handling, ship port time (berth and waiting) and cargo port time - 23 - (berth and waiting) except that in the PCR, savings from lightering arising from port congestion have also been included; (c) a project life of 20 years has been assumed, but whereas in the SAR the capital investment period for all berths were assumed to be 1981 to 1985 and for the container berth at Huangpu port from 1981 to 1986, in the PCR, the capital investment period for all berths was 1980 to 1987; and, (d) benefits start to accrue from 1986 for all berths and from 1987 for the container berth at Huangpu port with the exception that in the PCR benefits for the coal berths accrue from 1987. After reassessing these revised data, the overall reevaluated economic rate of return (REER) for this project is slightly higher (34X) than the SAR estimate (29Z), however, that for each project berth(s) was quite different. The detailed analysis is discussed in Annex 3. 6.2 A comparison of RERRs and the SAR estimates reveals that the RERR for Huangpu was slightly lower, that of Shanghai much higher, and that of Tianjin was slightly higher than the SAR estimate for each port. At Huangpu, the actual bulk (coal) and break bulk (general cargo and containerized) traffic was much higher than estimated in the SAR. However, benefits arising from the increase in traffic was offset by the reduction in average daily ship cost in port. At Shanghai port, the reassessment of the number of existing centainer berths from three to two, brought about by the increase in ship length of vessels calling at the port, has the effect of reducing the number of berths available to ships; i.e. the revised ship waiting time (without project) has to be increased to reflect the reduced availability of berth days. This accounts for the much higher RERR of Shanghai port. The RERR of Tianjin port did not deviate much from the SAR estimate (3Z higher) because the use of container berths by the port to handle non-container traffic as and when the berths were available. 6.3 Looking at the three ports together, there are five major factors which positively influence the RERR: (a) the increase in average container shipment size; (b) increase in coal berth capacity; (c) increase in container cargo value; (d) decrease in cargo handling costs; and (e) the downward revi- sion in the number of existing container berths at Shangha!. port. On the other hand, these factors were offset by the negative effects of: (a) reduced average daily ship costs in port; and (b) lower container traffic in Shanghai and Tianjin ports. The resulting impact was the RERR of 342 for the three ports collectively compared with 29Z estimated at time of appraisal (see operating parameter, para. 8 of Annex 3 and Table 6.8). 6.4 The RERR and SAR estimates for each major project element in terms of the proportion of total economic costs, economic rate of return, sensitivity analysis and net present value (NPV) are given below. - 24 - Shanghai Tianjin Total Husnapu container container Proloct --Col - --Conta1nor-- --Total-- PCR SAR PCR SAR PCR SAR PCR SAR PCR SAR PCR S M Proportion of total economic costs (3) 19 21 14 16 38 37 23 22 44 42 1o0 100 (1938 prices) Bmst e*tlmato of rato of return (3) 89 89 SO 89 37 89 48 28 24 21 84 29 NPV (12X, million Yuan) 448 o.s. g68 n.m. 1,016 n.a. 951 n.e. 531 n.a. 2,887 n.a. 16X incroae In cost and best estimat of benefits (X) 86 38 34 as 85 86 44 21 22 19 31 23 NPV (12X, million Yuan) 427 n.a. 549 n.s. 978 n.s. 923 n.m. 476 n.a. 8,216 n.a. Best etimate of costs and 25X decreseo In benefits (X) 88 81 1 3a8 85 32 41 18 20 16 28 26 WPV (12X, million Yuan) 301 n.s. 895 n.s. 096 n.o. 687 n.s. 306 n.a. 1,649 n.s. 15X incrase in cost and 26X decrease in benefits (X) 80 28 29 a0 29 29 87 16 18 14 26 20 NPV (12X, million Yuan) 280 n.s. 876 n.m. 666 n.e. 640 n.a. 261 n.a. 1,427 n.s. VII. CONCLUSIONS AND LESSONS LEARNED 7.1 This first project is a complete success as regards its design, implementation, objectives and achievements. Maintaining the same staff to carry out supervision on a continuous basis contributed to the project being problem free mainly as a result of the technical assistance provided by the staff and the working relations established between them and their counter- parts in the ports. This trend should be sustained and encouraged in future. The project has been completed on time at a total cost lower than the appraisal estimate by 382 (in US dollar terms) or 132 (in Yuan terms). This reduction in project cost was caused by the bid for equipment under ICB being unusually low as compared to prevailing world prices. The low prices resulted in the amount of the loan being reduced from US$124 million equivalent to US$67.97 million equivalent. The project achieved all its original objectives and yielded an overall economic rate of return of 342 which is higher than the - 25 - appraisal estimate of 292. In addition, all the loan conditions have been met (Annex 2). On the date originally set for the closing of the loan, 98.82 of the reduced loan had been disbursed, the remaining 1.22 was to finance an additional crane for Huangpu port. The projects at Shanghai and Tianjin were actually completed on the original schedule. Putting the three ports projects in one package deprived the Shanghai and Tianjin projects the privilege of showing zero disbursement lag at the closing date. The Bank should not have agreed to the purchase of this additional crane after the original project has been nearly completed. It would have been preferable to have provided finance for this additional crane in a sequential loan. 7.2 This project was the first Bank lending operation to China in the ports subsector. Loan negotiations were tough and time consuming. They involved three sessions; the first started on January 11, 1982 and the last completed on September 15, 1982. This was mainly because China was unfamiliar with Bank regulations and procedures and its role as a development institu- tion. China had initially hoped that the Bank would bend its rules, but the Bank was unwilling to grant it special treatment different from that granted to other countries. Now, that the project has been completed, the Government, as well as the managers of each of the three ports, expressed their apprecia- tion for the technical assistance provided by Bank staff during project prepa- ration and implementation, as well as for the benefits derived from interna- tional competitive bidding. Government request that the period between super- vision missions be shortened to six months (para. 4.7) is justified because it would reduce the possibility of major problems happening, encourage port staff by them feeling that they are not neglected or deserted in their endeavor to strengthen ports' autonomy. 7.3 The managers of the three ports reportel that heavy equipment, in particular, the container cranes, the transtainers and the 2.5 t fork lifts provided under the project from foreign manufacturers proved to be superior to those manufactured locally. Two container cranes manufactured locally and financed by the Government because they were not part of the original list of goods, caused, and are still causing, serious problems as a result of their low quality and reduced efficiency. The Bank, as well as the Government, should be careful in future when assessing the durability and efficiency of heavy equipment manufactured in China. Engineers from Bank Industrial Divisions should be consulted before the Bank would have no objection that certain equipment be manufactured locally. Shortage of spare parts started to cause serious problems after about three years of port operations. Certain spare parts provided under the project for equipment manufactured outside China have been totally consumed by now, causing some equipment to remain idle and others are in poor condition. Some simple imported components have been manufactured locally, however, others are beyond the know-how of local industry. The situation is aggravated by China's rigid and restrictive purchase procedures. In addition it is a usual practice that foreign manufac- turers offer low prices for their equipment but later charge high prices for needed spare parts. It is thus recommended that the Bank would look favorably into: (a) including into future port projects spare parts sufficient to cover five years of equipment operations, probably in two or three tranches to provide time for experience in using the equipment; and (b) if possible, use some surplus of Bank loans provided now for other port projects in China to provide urgently needed spare parts for equipment purchased under this project. - 26 - 7.4 The country's limited communication system and the severe shortage of transportation capacities, in particular those of the railways, poses a constraint for the increasing container traffic and inland distribution of containers. This sho.tcoming interrupts the full functions of container terminals provided under the project and results in dis3rupting adequate door to door services. Consequently large number of containers remain in the ports longer than they should, others have to be unstuffed within the ports' areas. It is therefore recommended that the Bank consideL financing projects that would improve the above mentioned situation on the basis of feasibility studies to be carried out under one of the Bank future transport projects. 7.5 The construction of the ports cannot be isolated from the regional transport plan, which should link with the national transport plan and the overall economic development strategy. Traffic at the three ports is influenced by their respective cargo allocation. The current traffic alloca- tions. is done largely by HOC central planners in Beijing. The exact basis for MOC allocation of traffic is not entirely clear, but in principle should be based on traffic assignments to the least cost mode and routing. To maximize benefits from capital investments, the construction of specialized berths for the ports should be complemented by infrastructure development linking the port to its hinterlands, and should be related to the region's stage of economic development. To achieve this coordination, a comprehensive (multi- modal) transport sector study is recommended, to guide planning for major port developments. A better traffic demand forecast will help avoid the problems of redesigning throughput capacity after construction has begun, or the underutilization of berth capacity after project completion. 7.6 The port tariff policy in effect throughout most of China is to apply the same standard charge, which is controlled by the State, on each commodity in all ports. The impact of this policy discourages the port authority from renovating or renewing the existing facilities to provide better services. In addition, the benefits associated with increased productivity from the new investments unfairly accrue to the ports' users--ship and cargo owners--rather than the investors--the port. Therefore, the Bank should recommend to the Government that port authorities be allowed to set their own port charges within a certain 7.ange based on the current standard tariff. This will appropriately distinguish between the quality of services offered by the port and the cost of providing such services. 7.7 In all ports, the scope of training facilities should be expanded, not only to cover engineers and operators, but also to cover financial manage- ment staff and economic planners. ANNEX 1 - 27 - CHINA THREE PORTS PROJECT PROJECT COMPLETION REPORT Hinterland Containerization Study 1. The Comprehensive Transport Research Institute of the State Economic Commission carried out the study and it was completed in December 1984. The study was the first of its kind in China, and it was found to be satisfactory and thus was accepted by the Bank. 2. The study described the existing developments for handling containers at the three ports, and discussed the existing issues in the hinterland container transportation. The issues were summarized as: lack of hinterland infrastructure and facilities, lack of technology and trained personnel, and irrational tariff rates for container movement, besides the lack of cooperation betwee'n the various departments. The study then forecasted the future container traffic at the three ports, based on the expected growth in industry and agriculture, projected the hinterland transport requirement from that until the year 2000. The study also compared the transport cost of a container by the various modes for various distances. Interesting results were concluded from these studies, but no detailed calculations were presented. These lead to the modal shares of container transport until the year 2000. 3. The study then proposed the required inland container freight stations, how they should be equipped and their best layout. However, the study did ot examine the adequacy of the various modes only identified that heavy investments are required for their development. 4. The study proposed certain measures to strengthen the hinterland transportation of containers among these are: (a) develop the container equipment manufacturing industry; (b) provide the required investment for development of the hinterland infrastructure; (c) gradually modernize management; (d) improve the transportation organizations in the country and modernize the various transport policies; (e) rationalize the tariffs for the various modes and services; (f) speed up the training for container handling. 5. The study was very useful in assisting the Government to formulate its future polices in regard to containers, stress the various points in the subsequent Bank projects and focus the attention on the relative importance of the various transportation modes. - 28 - ANNEX 2 PRigeof 2 PEOPLE'S REPUBLIC OF CHINA THREE PORTS PROJECT (LOAN 2207-CHA) PROJECT COMPLETION REPORT Complianc, with Loan Conditions Action required Action taken S etlon .03 (b). The Borrowor: (1) shall maintain records Compl ed with. Cooperation w'th the *nd procodur-s dqusto to record and monitor the progress Bank has been excollent. of the Projoct (including Ite cost and the bWnefita to be derived from it), to identify the goods and services financed out of the proceeds of the Loan, and to disclose their use In the Project; (tl) *ho!l enable the Bank's representativoe to visit thoe facilities and conotruction sites Included In the Project and to examine the goods financed out of the proceeds of the Loan and any relevant roecords and documents; and (iii) shall furnish to the Bonk at regular Intervals all such Information as the Bank shall reasonably request concerning the Project, Its cost and, where appropriate, the benefits to be derived from It, the expenditure of the proceeds of the Loan and the goods and services financed out of such proceeds. Section 8.05. The Borrowor shall carry out the training Complied with. Training for coal programs undor Port E of the Project in accordance with a operators was hold in China, and in plan agreed between the Borrower and the Bank. Japan by the equipment manufacturers. For container terminal's management and operatlons, training was conducted in Chin, Belgium, and Japan. Training on computer equipment operation and maintenance was carried out in Japan. All *hove training proved to be adequate. - 29 - AM=EX 2 Pjge T2of 2 Action required Action taken Section 4.02. (a) The Borrower shnl maintain or caue to Complied with. Adequate records have be maintainei records adequate to reflect in accordance with been maintained. consistently maintained sound accounting practices in tho operations, resources and expendituros, In roepect of the Project, of the departments or agencies of the Borrower, Including the Project diCH, responsible for carrying out the Project or any part thereof. (b) The Borrower shall cause each project CiC to maintain records adequate to reflect in accordance with consistently maintained appropriate accounting practices the operations and financial condition of each Proj et CiC. (c) The Borrower shall cause each Project CHC: (I) to Complied with. Proj et OCH have its accounts and financial statements (balance sheots, submitted its audit%,d etatemerte for statements of Income and expenses and related statemente) 1986, 1986, and 1987 q rqui red. for each fiocal year audited, in accordance with appropriate auditing principloe consistently applied, by independent auditors acceptable to the Bank; (ii) to furnish to the Bank as soon as available, but in any case not later than six month* after tho end of each such year, (A) certifld copies of Its financial statements for such year as so audited and (8) the report of such audit by sold auditors, of such scope and In such detail as the Bank shall have roesonably requested; and (Iii) to furnish to the Bank such other information concerning the accounts and financial statemnta of such Project CHC and the audit thereof as the Bank shall from time to time reasonably request. Section 4.05. Except as the Bank and Borrower shall Compiled with. Starting January 1, othorwise agree, the Borrower shall take, or cause ach 1986, total working revenues for each Project CHC to take, all such measures (including, but not year were equal to, or more than, twice limited to, adjustments in the structure and levelc of the total working expenditures for that tariffs and othor charges) as shall be required to ensure year for each of the Project OlCHs. that each such Project CHC's total working rovenues for each year, commencing January 1, 1986, shall be equivalent to not lses than twice its total working expendituros for that year. Section 4.06. The Borrower shall: (a) cause *ech of the This has been substituted by an ongoing Project CHCo to carry out a study of the annual operating port costing study In collaboration costs Incurred by sald Project 0CH during at least the first with MOC for all Chines port. The full year of operation of its facilities constructed under study Is financed by the Japaneso Grant the Project; and (b) exchange vlews with the Bank on the Agreement. term of referonce and findings of each atudy. ANNEX 3 -30 - Page 1 of 7 CHINA THREE PORTS PROJECT (LOAN 220/-CHA) PRCJECT COMPLETION REPORT ECONOMIC ANALYSIS A. Traffic Huangpu Port - Coal 1. The demand for coal traffic in Huangpu port in 1987 and 1988 was higher than the SAR estimate by about 20? in 1987 and 54Z in 1988. Based on current estimates the demand for coal traffic in 1995 will be 52Z higher than the original forecast [Table 6.1(a)]. These high growth rates are attributed to two main factors: (a) the extraordinary growth of regional economic activities in Guangdong province since the early 1980s (averaging 12.4? p.a. from 1980 to 1986, and reaching 24.3? in 1987); and (b) the deficiency of energy resources in the main hinterland of the port which requires imports of coal from other regions. In order to meet the additional traffic demand, the Guangzhou Harbour Bureau has decided to expand the handling capacity of the existing coal terminal and build an additional coal terminal as part of the ongoing second Bank-financed Huangpu port project. The benefits of this second Bank-financed coal berth project have been separated in the calculation of benefits to avoid double counting. Huangpu Port - Container 2. Despite much higher than anticipated growth of the provincial economy, container traffic at Huangpu port in 1988 was about 10? below the level predicted in the SAR as the rate of container penetration of general cargo trades was less rapid in earlier years. Recently however, growth in the use of containers has greatly accelerated, with increases in 1987 and 1988 of 41? and 51? respectively. Such phenomenal growth is unlikely to be sustained and the revised forecasts assume annual growth of 15.5Z--from 1989 to 1990, 62--from 1991 to 1995 and 8.5Z--from 1995 to 2000. The lower future growth is due to the diversion of traffic from the port as a result of the expected completion of the double tracking of the railway in January 1989, and the new exnressway in the early 1990s; both link Guangzhou city and the Special Economic Zones. Shanghai Port - Container 3. Container traffic in 1987 and 1988 through all berthing facilities at Shanghai port was lower than projected in the SAR, by about 57? and 40? respectively, despite an actual annual growth rate of total tonnage of 27? and 43? in the same period [Table 6.1(b)]. This was partly the result of slightly lower than expected growth in general cargo traffic (87? and 94Z of the SAR estimates for the two years). The lower growth rates of container and general cargo handling also were due to: (a) lack of coordination between the construction of transport infrastructure in the hinterland and the port's ANNEX 3 - 31 - Page 2 of 7 containerization development program which limited the use of the container facilities at the port; and (b) the rather slow rate of commercial penetration of integrated intermodal logistics management in China. Given the importance of the Shanghai port to China, container traffic is still expected to grow, but the revised container traffic for 1990 and 1995 is now expected to be smaller than originally predicted (four million tons and six million tons vs. six million tons and seven million tons respectively). The second Bank- financed project for the port (Ln. 3006-CHA) is paying close attention to the port's master plan within the context of regional development of the transport network and services. Tianjin Port - Container 4. Container traffic through all berthing facilities at Tianjin port in 1987 and 1988 was lower than the SAR estimate by about 39? and 51? respec- tively. Because traffic pattern at the port consists of about 80? foreign trade and imports are always larger than exports, traffic is subject to fluc- tuations caused by the uncertain conditions of international markets [Table 6.1(c)]. Considering the lack of integrated coordination in transport planning among the government agencies [para. 3(b), Anmex 3] and recent government import restraints due to the deterioration of the international balance of payments, the future annual container traffic growth is estimated to be on the average only 5.72 from 1988 to 1995, 13.92--from 1990 to 1995 and 6Z--from 1995 to 2000. This is lower than projected in the SAR, by about 50Z and 90? for 1990 and 1995. It should be noted, however, that the facilities can be, and are being, usefully employed for non-containerized operations. B. Ship Time Analysis Coal Carriers 5. Comparing 1980 and 1988, coal carriers spent an average of 4.1 days and 5.1 days respectively in Huangpu port, of which the ship waiting time in the port (non-productive time plus weather stoppage) accounted for 1.45 days and 3.65 days, respectively (Table 6.2). During the same period, the average working time per ship (productive time at berth) has decreased from 2.6 days to 1.4 days. This increase in ship port and ship waiting time, and the decrease in the ship working time, reflected the rapid increase in coal traffic demand (para. 1 of Annex 3) associated with increases in coal through- put capacity at berth. Had the added capacity provided by the project not taken place, the increase in ship waiting time would have been extremely larger. Container Ships 6. Comparing 1980 with 1988, the average working time for container ships at berth at Huangpu doubled, reflecting a doubling of average shipment size. Ship waiting time increased from 1.71 days to 2.43 days between 1987 and 1988 alone, which coincides with a 50? increase in traffic during the same period. Again, in this case also the increase in ship waiting time would have been much larger had the extra capacity provided by the project not materia- lized. In contrast, Shanghai port improved considerably. Average tima spent at port were reduced from 6.38 days to 1.85 days between 1980 and 1988. Ship ANNEX 3 - 32 - Page 3 of 7 waiting time was reduced from 4.05 days to 1.46 days, and ship working time reduced from 2.34 days to 0.4 days. At Tianjin port, during the same period, ship working and ship waiting time were fairly steady (Table 6.2). C. Berth Operations Coal Berths 7. Facilities added by the project increased coal handling capacity of Huangpu port by 46.12 to 6.34 million tons (unloading: 4.0 million, loading: 2.3 million), however, total volume of ccal distributed through the port in 1988 was 7.1 million tons. Detailed efficiency indicators are shown in Table 6.3(a). Container Berths 8. The operating parameters for container berths at the three ports also differ from the SAR estimates. The detailed indicators used for the economic reevaluation of each port are shown in Tables 6.3(b) -(d). There are four main changes in the operating parameters: (a) the number of container berths (without project) in Shanghai has been reassessed from three (estimated in the SAR) to two, as a result of the increase in ship length; (b) the average ship- ment size has been increased; (c) the average daily ship cost in port has been reduced to reflect actual shipments and current operating costs in the shipp- ing industry; and (d) cargo value and cargo handling costs have been revised to reflect current market value on ships calling at these ports. The changes in operating parameters are highlighted as follows: _33 - ANNEX 3 Page 4 of 7 SAR PCR Percentage Operating Parameter (Unit) Estimate Estimate Change 1. Existing Berths (number) - without project Huangpu - coal 2 2 - container 0 0 - Shanghai - container 3 2 -33.3 Tianjin - container 1 1 - 2. Proposed Berths (number) - new project Huangpu - coal 2 2 -container 1 1 Shanghai -container 2 2 Tianjin - container 3 3 - 3. Maximum annual throughput per proposed berth Huangpu - coal (mt) 2.17 3.17 +46.1 - container ('000 TEU) 105 104 - Shanghai - container ('000 TEU) 105 104 - Tianjin - container ('000 TEU) 105 104 - 4. Average ship size Huangpu - coal ('000 DWT) 17 17 _ - container ('000 TEU) 1.0 1.0 - Shanghai - container ('000 TEU) 1.0 1.0 _ Tianjin - container ('000 TEU) 1.0 1.0 - 5. Average shipment size Huangpu - coal ('000 DWT) 16 16 _ - container ('000 TEU) 0.4 0.8 +100.0 Shanghai - container ('000 TEU) 0.4 0.7 +75.0 Tianjin - container ('000 TEU) 0.4 0.7 +75.0 6. Cargo value Huangpu - coal (Yuan/ton) 120 120 - - container ('000 Yuan/TEU) 15 35 +133.3 Shanghai - container ('000 Yuan/TEU) 15 31 +106.7 Tianjin - container ('000 Yuan/TEU) 15 20 +33.3 7. Average daily ship cost in port ('000 Yuan) Huangpu - coal 15.0 12.6 -16.0 - container 25.0 19.6 -21.6 Shanghai - container 25.0 19.6 -21.6 Tianjin - container 25.0 19.6 -21.6 8. Cargo handling costs Huangpu - coal (Yuan/ton) 0.75 0.70 -6.7 - container (Yuan/TEU) 100 45 -55.0 Shanghai - container (Yuan/TEU) 100 45 -55.0 Tianjin - container (YuanITEU) 100 45 -55.0 ANNEX 3 34 Page 5 of 7 D. Economic Costs and Benefits Economic Costs 9. Due to price distortions in China, market prices have been adjusted to reflect real economic costs. In this analysis, several methods were used to convert financial costs to economic costs (in 1988 prices), depending on the category of costs. (a) For major items such as wharf construction and other large civil works, each cost component was separately shadow priced by inputs. The conversion factors for major inputs are: cement/machinery--l.40, unskilled labor--0.50, and skilled labor--4.00. The other i:nputs are close to 1.00. (b) For the direct foreign costs of imported equipment, a conversion factor of 1 was used; and (c) For other items, aggregate conversion factors are similar to recently updated figures used in the December 1988 report for Ningbo/Shanghai and Xiamen port projects. The results of calculation are provided in Tables 6.4; taxes and duties were excluded. 10. In the SAR, the overall effect of shadow pricing project costs was that economic costs were 4.5Z higher than financial costs; equivalent figures in the PCR were 76.2Z higher. However, this SAR's ratio would be 84.32 of the economic cost if converted from 1980 to 1988 price level. The overall economic project costs shows a saving of 5.5Z at 1988 constant prices. The updated financial and economic costs for different types of berths are summarized as follows: ANNEX 3 - 35 - Page 6 of 7 Huangpu Container Totsl (million Yuan) Coal Container Subtotal Shanghai Tianjin Project Project Economic Cost (Million Yuan) SAR - Financial la 111.43 102.27 213.70 133.30 283.70 630.70 (current) Economic Lb 116.70 107.10 223.80 139.60 297.10 660.50 (1980) Difference (2) - - - - - 4.70 Economic 240.59 185.73 426.32 253.02 482.76 1,162.1C (1988) PCR - Financial la 122.00 81.60 203.60 150.40 268.90 622.90 (current) Economic lb 203.75 158.16 361.91 256.77 478.98 1,097.66 (1988) Difference (2) - - - - - 76.20 Z Change Financial 9.5 -20.2 -4.7 12.8 -5.2 -1.2 (current) Economic -15.3 -14.8 -15.1 1.5 0.8 -5.5 (1988) /a Excluding price contingencies, taxes and duties. /b Adjusted through shadow pricing of inputs. Economic Benefits 11. The quantifiable benefits attributed to the three ports project consist of saving in: ship time in port (includes berth time, waiting time and lightering time), cargo handling and cargo port time (Table 6.7). The total estimated savings in 1988 in comparison with the SAR at 1988 constant prices are summarized as follows: ANNEX 3 - 36 Page 7 of 7 1988 Huanapu Shanghai Tianjin Total (million Yuan) Coal Contain-a cent!inora Cont / PCR SW PCR SA PCR A FCR SA PCR SAR Savings In ship port tit 129.26 122.22 82.94 118.99 100.13 65.68 91.60 130.48 363.88 422.35 Savings In cargo handling 11.08 1.82 67.52 6.92 141.69 14.00 98.86 17.30 338.79 39.64 Savings In cargo port tim. 9.68 6.42 8.19 38.78 87.78 14.99 29.78 19.60 00.68 77.74 Total B-nefIto 160.12 129.96 128.65 157.64 279.80 84.67 219.63 167.88 778.20 639.63 a Includes foreign general cargo traffic. All the figures are rounded. At Huangpu port, the higher traffic only yielded marginal savings in ship port time due to the downward revision of ship cost in port by 16Z (para. 8, Annex 3). The higher utilization of general cargo berth facilities associated with the higher traffic volumes has resulted in less savings in ship port time than the SAR estimates. At Shanghai port, the reassessment of the number of existing container berths caused savings in ship port time to be underesti- mated in the SAR. At Tianjin port, the readjustment made by the Port Authority in using container berths also for break-bulk cargo in order to cope with the lower container traffic demand has resulted in less savings in ship port days as compared with the SAR estimates. Comparing the new estimates of savings in cargo handling and cargo port time with those of the SAR, most of the project berths show large increases in savings as a result of the reduc- tion in cargo handling costs and increases in cargo values. Huangpu port shows lower savings in cargo port time only because of congestion caused by coal and general cargo traffic there. The total savings in ship port time and cargo handlirS costs account for about 90? of the first year benefits (1987). The total savings in cargo port time account for the remaining benefits. These patterns are expected to remain constant until the year 2000 if traffic demand is sustained. 12. A large part of the project benefits result from ship time savings. These savings would accrue first to ship owners. During appraisal, all ship time savings were assumed to accrue to the Chinese. However, now with increasing non-Chinese ships operating in China, the benefits of the project which were assumed to have accrued entirely to national flag shipping, needs to be adjusted, and for the purpose of this PCR we assume 15Z of the benefits accrue to foreigners (except for the coal traffic), i.e. only 85? accrues to the national economy. Table 3.1 - 37 - IIOjECT CPLETION REPORT TO6EE PORTS PROJECT ILOM 2207-CHA) Details at Container Eouonwt Contracts Date of uSS *uivalet- Dntl- delivefY at Contract typr Quantity nation contract Sippli r currs.c a "Mout Aparta biddng Currat hay container crine 2 Tanjin 12131/84 1b SuitOm Oen 692,116e00.00 2,870,897.63 3,272,41a * 3 Tianjin 12131/85 CNAIEC lua 7,936,179.00 5,290,76u.0o 3,9M0,670.4 2,602,026 2 Shaqai 03/31114 CNNIEC tShanghail wa. 5,205,8L200 3,470,588.00 2,604,i44.01 1,706,847 2Shanghua 12131/14 Suuattoo rt 68,616,000. 00 2,731,939.61 3,114,024 I Nuainpu 1231il84 Sutor yen 340,80,090.00 1,413,87.51 1,611,631 fbber-tzred gantry crane 6 T3anjim 12/31/84 Masebo 1m1 Vi Sl,O000,000.00 2,409.968.39 2,747,045 6Tanjin 1211,86 rIssao ln.) rt 767,320,000.00 3.182.543.87 3,627,791 3 Sanghu 03131184 CIRIEC lShanhat) Yeo 2,636,493.00 1,767,66200 1,319,103.92 864,424 3 Shanqhal 09130VE4 HNsr,o [Val .mu 183,120,000.00 1,5C9,182.01 1,811.442 3 Shanthsa 0913J185 hiseho toil m" SS3,11,000.00 1,589,140,53 .,I11,395 3 HupaP 10/15/84 lui n teal IN 385.3.0.00.00 1,590,177.53 1,812,577 tractor 10 Tanjia 12/31184 Iftsubishi 12 Tanuin 12/31/85 MIt1hatsk1 i1n 14,814,000.00 604,994.57 694.156 7 Tanjin 12W31/84 NItsuttiba ftn 42,840,000.00 177,700.35 202,555 12 Shanqhai 03131/84 Mitsubish 11 Shanqhau 12/31/84 Ihtsubisbi 10 Shanghai 12/31/85 its uishi rc 216,277,000.00 892,969.14 1,017.858 6 Wangpu 12/31DU4 ffitsnhiibi n tuangpu 12/31/86 Atnelki vo 77,84,000.00 322,979.92 368,151 sefitreiler 36 Tiann 12/31/84 CMIIEC ui6angduog 66 Tianjin 12t31/84 CIUIIEC (husqdtug 21 Shanghai 03/31/84 CMIEC (Cuangdm;h 17 Shangbai 12/31U4 CWIEC (Sumingdng) 17 Sbanghai 12/31186 CIIIIEC (6angdongi 18 Hiungpu 12/31/84 CIHIIEC (sud9sio") 18 Huangpu 12131/86 CIIUEC (nqldong) Vuan 2,467,011.09 1.639,007.39 1.229.304.59 @05,577 Forklift truck 25-timi 2 Tanjin 07/31/84 Cluak US 380,532.00 380.532.00 580,532.00 380,552 2 Shanghai 03/31/84 lbtabska rOn 76,390.000.00 316W5.77 361,102 Fornlift trick (16-ton, 4 Tianin 1213186 kstarn iJaparn Co. 2 Shanqhua 03/31/84 stern iJapanl Co. 2 Shanghai 12/3184 dsItarn iWapmn, Co. ton 161549,512.00 u70,107.'0 763,827 Forklift truck i2.5-ton, 10 Tnjin 12t31/84 CNMIEC (linjng) ic 20 Shanghai u4130/84 CAHIEC tBeinng,. loan 1.018,260.00 678,040.00 509,461.15 333,056 20 Shanghai 12/31/84 CINIEC leiiingin Forilift truck 12.5-ton: 26 Tianin 12/31ft6 CHRIEC (Bhingf ftuan 731,176.00 487,4:0.00 3t5.825.29 239,729 20 Shanghai 12/31/8 CHIIEC (Shijingin Truck scale 4 Tianjin 12/311/84 litsubishi 3 Snanqhai 12/314 Hitsuablul I Huingpu 12/31/84 Mitsubishi vim 76,032,200.00 315,381.62 359,490 Total WS$3 31,062,577.3n 30.508,729 ao Erchmnp rates At appraisal At bid award o -ie r 1984 octoe185 kMebnu 1984 US$1 Yuan 1.76 Yuan 1.987 Iuan 2.60 Turn 3.05 (in 3.71 USOI ren N.A. Ten 241.09 rn 245.0 vr 211.50 Tm 160.0 i6 die oWminq Juli e. 1983. Bid award and contract signature Oecnetr 1983. i c'I and In' u e b ro nod. Table 3.2 - 38 - .V PROJECT COIPLETI0W REfPOAT rusE PORTS rJECT (LOA 2207-COiA Coearimsi of Estimutd ad ktul PreJKt Costs t -----I Thonoudd _ thob --- ---Abrasal- -ttl- -raal-- - cetul- Locel Fweile Total LoKal Foreip Total Local Forni4 Total LKcal Formig; Toola Civtl erks i b HuMano Cod Terimnal t5.346 - e5,34S t 5,47 - 65,487 37.341 - 37,341 2i,299 - 25,29 Huaqpi Container Torminal 90,710 - 90,710 48,938 - 48,938 51,702 - 51,702 24,m - 24,292 Shanghai Conteiner Terainal 6,495 - 6t,495 95.360 - 95,360 4942f.0 - 49.423 40.607 - 40,807 Tianjin Containr Terminal 234472 236.472 203,S01 - 206,301 135,134 135,1S4 95,217 - 95,217 Sob-total 419,023 - 479,023 411,306 - 416.30 27,05 - 273,405 185,415 - 165,415 Equipent j.c tzanqau Coal Torminal 5.097 69,892 74,989 - 54,294 54,24 2,916 39.938 42,54 - 20,214 20.214 Hugom Container Terminal 1.044 17.153 t9,217 - 31,370 31,370 407 9,102 10,409 - 11,244 11,264 Shuqbai Container Terminal 4,007 60,077 64,084 - 53.944 53,944 223.0 34,329 S6,617 - 16,406 16,606 Tianjin Container Terlifal 5,014 72,505 77,521 - 59,504 59,504 2,845 41.431 44.296 - 18,914 16,914 sob-total 15,184 219,t27 234,811 - 201,114 201,114 ,6.70 125,500 134.176 - 69,000 49,000 Containtrizotion Study 3.850 3,85 3,500 - 3,500 2.204 2,204 1,160 - 1,U6 Custos Duties id 30.498 - 30.498 28,822 - 28.622 17,429 - 17.429 10.350 - 10,350 Total 528.561 219,.21 741.188 450.o26 201,114 *51,742 301.914 125,500 427,414 197,145 o9,000 2tt.145 *as Including contznqentesn. b) Inncluing dtsign and sapervision. irct Including training S9 1.03 million equivalonta. i ds Including UM 1.03 mIlion, equivalent financed oy the 6overoment. _39_ Tablo 3.3 PEOPLE'S REPUBLIC OF CHINA THREE PORTS PROJECT (LOAN 2207-CHA) PROJECT COMPLETION REPORT Estimated and Actual Cumulative Disbursement (USS'OOO equivalent) Bank FY Revised Appraisal Appraisal estimate estimate Actual (Original loan) (Reduced loan) la (Reduced Loan /a) FY84 1st quarter - - - 2nd quarter 4,500 2,466 0 3rd quarter 14,500 7,947 0 4th quarter 24,500 13,428 3,500 FY85 lSt quarter 30.500 16,717 3,926 2nd quarter 40,500 22,198 9,427 3rd quarter 50,500 27,679 19.381 4th quarter 60,500 33,160 21,795 FY86 lot quarter 71,500 39,189 25,025 2nd quarter 82,500 45,218 41,000 3rd quarter 93,500 51,247 46,436 4th quarter 105,000 57,550 48,020 FY87 lst quarter 117,180 64,226 48,510 2nd quarter 124,000 67,970 49.000 3rd quarter 124,000 67,970 55,061 4th quarter 124,000 67,970 60,479 FY88 lSt quarter 124,000 67,970 60,881 2nd quarter 124,000 67,970 66,410 3rd quarter 124,000 67,970 67,198 4th quartar 124,000 67,970 67.198 FY89 1st qv.rter 124,000 67,970 67,198 2nd quarter 124,000 67,970 67,198 3rd quarter 124,000 67,970 67,970 /a US$55 million of the original loan have been cancelled on May 10, ±984 and US$1.03 million on October 27, 1987 thus reducing the loan to US$67.97 million equivalent. 4 ~AIM PIiOJCI CEIWICII 919P131 IHIIEE PFINS P9JWCI tLiMI 22U7-C3I ktual ad FCrKst la Cmtamewr hit tc lkraq All krtbmq fltilitirs ls Eich of the lbr Purts - - - - - - - - - - - - - - - - - - - - - - - - - - - - - ----------- - - - - - - - - - - - - - - ----- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -........................... _ _ .. __ ______ ___ __ 1990 1993 1992 1993 199 399 tu9b kw9 319 3900 1,95 no01 wr khtal f`WK&St Actua Faracast ktual FreKast kctul FIrfCant ktual fOecKst ktulal FnKasnt ktual hrffnt lstto. Fwreast lvwsid FreKaSt busd Forecst Amused baaps Pcrt Castaimer traffic IOe tEl 59 63 r a. 50 m.a. 11 ia. 135 a.a. tO 400 352 600 ilk 635 50 6S 1,00 6W 2,150 3,0W 3,230 ktual total IEU I 0003 10.1 7., 15.4 21.2 4S.9 52.1 57.4 65.t Sbaqba Part Catagmr traffic t.0* to) 244 412 ma. 512 m.a. A02 .a. S22 ia. 1,26 1,300 1,407 3,500 1,193 4,20 2,563 4,206 4,060 &, 6,60 I,0m 9,00 Actual total TElD (t060 30 41 60 115 202 294 224 313 hIjsFj Purt Cutawr traffic tl'0 tinr 1j 243 i.a. 313 e.A. 49 .a. 04 a.&. 924 I,I50 I,vO 2,535 1,156 2,935 1,692 3,35 1110 3,910 3,266 4,000 4,5 ktul total Iftt lIOI 17 24 41 61 94 IN 367 362 214 I A FWrnnt * n nt tetd 1a th Apraisal It 1 b bvimd * ns ren!sa by thue Chcus ufitirials a tk pro§jet ceplmt1 a stiON as thl asis Of traffic hrKnStr mw pt proW ects tat tfllaufi tm zt lbruF Part ueJKt. w- S~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~- - 41 - Table 5.1 (a) 4 ClIi PROECT C00L£TlON REPY I6imwt PUT, NRES PUTS PROJE 11LO1 2207-CIA) kt"l t PtoIKS It n lacs Itate ts of the Put hAthuitr. 190-19 3,.0001 hse year -1961---- ----3962-- -1963-- -1914- -3935---- --399--- 3 97 - 915 160 kctual Furict ctual Forecast ktul Foreast ctat Forecat tuat Ferecut ctul Forecast ktul Estiute Traffic (0O4 too) 12,105 33,867 12.600 15,179 12,90 16,006 13, 15,6 14j," 16,13 16,550 19,51 - 27,703 41,277 of etich, uthrueoo ltm"l 5o)63 1o0 50 150 117 2n0 15 350 360 400 352 496 750 I1dI3aq 34,512 40,29 35,330 44,570 33,250 51,27 40,720 62,2 43,120 1,423 46,740 106,75 50o,950 137,223 16,66 Swap 11,745 13, 13,040 14,617 11,250 I&,M 12,200 22,n66 13,040 30,6 14,660 31,742 1S,96 33,16 37,96 Stkr 5,329 10,136 6,64 11,741 %400 12,517 9,65 17,403 10,100 22,46 10,570 25,535 11,115 32,335 36,404 rvktlaq 2,205 1,710 1,500 I,900 1,570 2,132 3,600 2,226 1,640 2,065 1,00 4,53 1,600 3,6 5,7 hotatl 56,53 66,034 56,730 72,902 60,470 52,0 64,320 104.377 67,U60 343,730 73,70 160,553 79,630 266,371 250,9 rati.eq Cts =NulS 22,305 4,62 23,554 25,637 25,940 27,715 2,46e 29,229 30,510 34,35 33,620 45,79 37,030 62,06 73,27 Storm 1.1 - - 3,512 4,966 7,U - 1,477 13,504 Ot 4*,33 5355 5,47 5,624 5,551 6,524 5,660 9,104 5,7 11,050 5,960 14,527 6,250 16,662 19,741 11 rketial 2,023 1,5t2 3,350 1,464 1,450 1,616 1,460 2,010 1,410 1,943 1,410 3,669 1,410 3,032 4,144 htetal 29U,6l1 31,736 30,371 32,725 32,941 36,125 35,UO 43,915 37,760 52,354 41,060 72,303 44,760 90,432 114,5u Lan: ima To 1,S5f 1,60 1,613 2,095 1,735 2,432 3,0 3,055 1,95 5,250 2,126 6,079 2,320 7,361 6,6e3 Allmuce for once oflatim - - - - tO - 2,020 - 3,230 - 4,760 - a,150 Wdratio Profit 25,545 32,411 24,726 30,052 24,844 44.249 24,330 57,407 24,32 66,126 25,624 90.369 26,400 100,515 127,24 ltowt -s*o- * -- - - - 204 - 9 3,830 _eu* atiq isco 4,042 11 2,365 29 4,050 320 3,525 1,03 2,700 19 ,220 134 3,S0 397 1,475 _nMI"Atin spasm 1,651 1,797 1,726 1,7t0 1,9 2,4 1A,6O 2,151 1,9 2,593 I,93 3,405 2,020 4,674 9,942 Profit before tam 2,236 30,632 25,335 36,333 27,100 41,515 26,S05 56,294 25,670 65.341 26,60 66,236 2,360 103,401 314,97 Ius tax - - - - 22,647 - 30,974 4-,6" 4 7,374 - 3,670 3,570 Mjumt tax- - - 12,052 - 12,417 12,041 5,422 ote pepots to Slats - - - - - - - - - - - 9,450 *,4o ;1t prfit 23,236 30,32 25,55 36,331 27,100 6,616 26,505 12,661 5,676 25,60 2B,R 30,442 23,360 9,o01 103,667 ktm m m m - m - ---p mmat fish assets (i l2.7 30.2 34.2 15.2 15.2 10.3 17.9 30.4 22.9 3.7 39.7 6.3 23.2 21.3 litl1q ratio 53.0 49.5 55.1 46.2 57.0 44.9 5.9 43.3 0.3 37.3 616 44.4 629 45.4 47.4 .vbiq ratio 40.6 43.1 41.3 36.6 429 S3. 43.9 55.0 43.3 29.3 44.0 55.7 43.5 36.9 31. ,1!. Cmamei mat Ihadl tetu. Ior-6c - 42 - Table 5.1 (b) FROJECT CONLET1IOS REPOIT s6 Io4 r PORi IOUE PORTS PIOECT LOUl 2207-CM4 Actual ad Project" alcaem Staterts of tI Prt Atbnity, 190-193 ~~Aw VW -1911-- ~ ~ ~ 3 211U *. yer --19.1-- 1?312-- --3933-- -1934- - -19 -90--193H7 193 Ie kttal Fgrueet kttal Forc,at ktsul Forcast kttul Forecast Actul Forecast ktul FaraKnt ktual Estaate Tra*f;c tal.. torn tla Wat 14.13 3i.35 79.50 OLi4 33.00 91.91 V7.0 100.66 94.00 112.91 103.00 126.04 - 123.53 13329 Pot utbrrtv 09.34 64.50 - 7.00 - 09.00 73.03 72.00 11.U3 70.73 91.14 - 9.40 "5.3 Cutelsr (la. tD 0.24 0.41 0.51 - 0.00 - 0.02 1.20 2.0 1.41 3.50 1.79 2.5t nW1181 141.5 I94.0 12.35 13.27 333.60 138.13 141.7 225.04 151.04 316.44 10L210 3S5.71 171.00 339.U2 400.15 Storag 43.33 - I1_ 40.11 41.00 40.20 40.09 40.24 40.06 40.30 05.5 43.90 70.07 44.00 64.44 91.34 Otu,. 30.97 55.75 37.94 02.20 39.21 01.32 40.23 90.70 41.20 130.10 42.3 150.34 44.23 190.70 379.42 hr0tin 41.01 29.* 33.P0 2.34 36.40 35.15 35.46 50.47 40.55 54.51 43.20 40.41 45.P0 55.15 71.77 stu11 203.00 279.01 240.24 2".49 249.61 329.24 260.70 414.97 s73.7 5M.". 291.93 023.13 305.03 049.91 742.48 wrUata Cots 11inq 77.59 73.24 76.00 67.22 76.30 69.46 70.90 03.71 76.00 9.37 79.00 121.29 10.13 135.37 13S.9 Stor -1 - 10.34 - 9.79 - 11.11 - 12.02 30.34 - 33.51 19.57 Other 3.l3 19.34 11.50 23.03 17.13 24.51 13.13 31.31 18.74 44.37 19.45 02.15 20.00 31.92 9.94 lkrtatiq 35.72 20.34 31.96 24.03 33.83 30.30 35.19 42.67 36.95 45.60 33.30 51.0 39.40 .27 hi." ltitu 131.42 324.92 120.52 123.43 127.90 134.06 130.22 106.00 133.09 102.3 136.75 251.43 33.3 234.07 320.43 hbal tB 7.00 3.05 7.10 9.11 7.40 9.93 7.73 12.15 3.01 19." 0.21 21.7 3.4 21.S 27.19 once inflhtl- - - - 4.36 - 8. - 14.30 - 19.70 - 20.00 - bo ratil P"Ott 123. 144.84 106.02 163.90 109.89 185.25 113.93 234.02 117.75 344.73 127.21 349.87 331.03 34. 339.06 Internt 0.00 0.00 11.04 - - - 2.33 _operat;eq Iscote 29.30 0.03 21.00 0.t5 21.10 0.0t 21.10 v.50 22.10 0.77 22.45 0.51 23.00 0.00 0.05 -_seathuq EVp# 11.04 21.81 11.50 12.95 12.00 13.40 12.50 34. 33.00 17.94 13.50 23.55 14.00 37.27 2.05 Other lnctt 0.00 - ' - 0.00 - 0.41 - 1.20 - 1.52 Profit kfar Tarns 142.24 125.00 311.92 140.56 119.09 172.51 123.23 219.59 120.85 327.97 130.22 328.09 140.03 307.13 30.05 lu T - 111.05 122.61 - 94.35 - 120.77 6.3 - 5.55 51.55 51.55 dsUta Te - - - - 54.37 - 54.0 - O1.S7 - - - - Otor P4abte to State - - - 2-.0 21.00 - 21.00 - 21.0 21.00 Nt Profit 142.24 14.01 U11.92 17.95 119.69 25.29 123.23 22.92 12015 -4.60 1.22 255.54 10.03 234.03 2333 hturu . avera11 set fled asets 121 27.0 20.5 27.1 20.0 23.3 21.5 33.3 21.5 44.7 21.7 42. 20.3 3.1 34.7 OWntill hAtl 51.5 40.0 54.3 43.4 53.1 42.0 53.3 41.9 53.2 37.0 51.3 41.3 51.6 45.2 45.6 Vertivg ratle 45.4 $9.7 40.6 37.0 40.0 35.3 45.4 33.3 44.3 34.5 43.1 S.4 42.0 41.7 40.3 /J. Csia uitt hUA1r revie. lNW -43- Table 5.1 (c) 4 PROECT COWL.E3IO REPORT tIWNIN PUT: Thil! FORTS PWECT (LOA 2201-ChAl ktUal a PFojKt1d Iotac. Stattluts o4 rftg Port luthwrity, 1"0-190 IT 0001 kw year 1 -1…32-9-6--4-- 5----9--- 1967 1296 1960 ctual Forcast ktual Forecast ktval Forecat Atual fo rKst ktual Fargast ktual Forecast ktual Estbeti Traffic 30M toa) II,'2I 11,754 12,000 12,66 12,300 15,043 14,000 14,105 15,l9 18,542 16,250 18,161 17,252 21,094 Of whtts Catalsr (x000 ton 1oo 243 240 313 400 409 540 104 430 924 1,50 1,05 - 1,135 1,492 him. .adhq 533,94 51,241 55,457 58,970 59,402 49,215 45,037 97,044 71,14 i14,99 77,429 179,74 84,350 15,345 117,400 Sterw 5,594 15,326 5,747 17,452 4,39 21,000 7,144 17,044 7,946 2,64 9,573 36,417 10,240 19,370 21,600 Otw I2,954 9,760 14,000 1,251 14,9O 9,357 16,350 9,172 17,730 41,244 16,990 44,497 20,110 49,643 42,600 rsoti 6,67N 20,339 7,000 25,534 7,000 27,61 7,000 3,552 7,000 24,122 7,000 25,411 7,000 20,627 25,500 Subtltal 30,394 94,6 62,204 110,237 07,m1 1274390 95,S3 155,414 103.122 256,652 112,92 234,291 121,900 246,5 267,500 taratiq Cats NlMd12 27,512 2,919 30,144 31, 150 33,56 34,99 34,432 S3,245 37,649 44,034 42,768 54,171 44,930 57,043 41,000 trwe I - - - - - - - 6,311 - 9,51 - 11,57. - 12,27 .13,400 otu 5,074 6,270 7,500 4,749 6,000 6,054 6,600 6,6 9,500 13,600 10,200 15,412 12,000 21,371 25,500 Rarketia, 6,459 7,45 4,900 7,352 4,600 6,631 4,600 11,e1l 4,600 22,470 4,600 21,744 6,800 16,351 13,100 Sutotal 42,047 44,952 44,444 45,250 46,35 53,6 5?,032 41,99 54,129 9,6u2 59,74 102,900 44,730 109,012 123,000 htues Tax 2,313 2,713 2,35t 3,276 2,520 3,i41 2,756 4,733 3,005 8,492 3,279 9,761 3,510 6,474 9,620 Alaomce for price inflatom - - 1,460 3,110 5,240 - 7,330 - 9,9O0 wuatirq Profit 34,034 49,003 SSU.40s 1,709 35, 45 ,494 37,563 6,465 41,368 156,493 42.05 173,410 43,700 131.09 144,600 laterut - 406- - - - - - 37 4,6 NR Aa atil iWcu1 3,721 207 5,541 70 ,7m 2U 4,054 149 ,5a3 142 7,553 221 6,530 75 140 Nabatiag opn 2,393 2,083 2,500 2,724 2,0 3,040 3,400 3,505 3,1100 2.514 4,400 2,94 5,000 5,923 7,620 OtUr spas - 5,197 - 7,259 - 20 - - - - - PrOfit we lotTan 35,32 41,940 3,443 52,594 36,510 44,443 0,239 65,349 44,171 154,124 05.756 170,037 47,230 121,462 152,104 Iac.. tax - - - U4,41S - 46,942 - 83,437 - 69,566 - 46,431 16.350 Ajustmat to- - - - - 32,264 - 33,576 - 29,425 34,9U2 pecmalt 0u4 allecattua4 7,725 10-I,U - 9 37 - 3,490 1 - - - Profit rnittui to State 34,114 * 44.,5 19,367 - 17,460 - - - - utainf es s - 5,34 - 6,010 10,*11 - 20,727 - 0,m - 47,671 23,419 26,792 etwn N swrape net filed asts ii 12.: l.V 12.4 11.1 12.4 11.6 14.5 13.v 24.1 10.6 21.1 7.7 13.Q IS37 Ipwatia ratio 53.9 47.6 55,7 42.3 57.6 43.o 58.1 41.1 56.7 36.7 56.4 37.2 59.7 45.4 40.7 4wkiag !A1 44.2 39.0 50.4 33.5 52.6 352 53.3 33.6 52.1 31.9 52.3 31.5 52.3 37.5 32.7 Rs$ 711 tCala1 with handling costs. ircea lujin Fort Aatetty ad lak staff. - 44 - Table 5.2 (a) 4 eRGJECT CONPLET10d REFORT 'IRIA9U FIAT THREE FORTS iF.JE;T LaNAM 2:O'-;. Actual AP POjKt e S9lanceRIAIts at *tU 't Auttority. Iiiv-l09 sb VW -1940- -1402- --193-- - - -- --195----- --1986--- - 1997 1963 1I90 Actual Fwercat ctutai FP ast ktual Forecast ktual Forcust Actual Forecast kctual Fetcast Actual Estiate Assts Fixed au ts At cst 214.126 311,502 294.126 524.115 301.126 37;I507 30.126 397.852 31e,126 4"9.453 43,805 54U.605 569,948 .77.065 M3,454 Lmas lap. 43,239 49,611 50.339 55.674 59,01' 61.356 63,120 e2.990 75.743 7i,e44 90,475 86.079 105,475 98.460 11.*352 Situtal 240,337 26,971 243,437 28,441 242,107 312.149 240,006 ;32.962 237,333 422,809 349.330 494.726 484.473 579,605 616,902 Otr amtWe 0 0 0 0 0 o 0 236 0 236 0 256 0 363 404 etotal 240,337 260.971 243.237 28.441 242.107 312.149 240.006 329.146 237,393 423.095 349,330 495,012 494.473 578.968 617.20* *'rnmt assts Inatcory 10,71* 10.3 10.500 9,239 10,600 9,599 11,000 16,72 11.500 9.607 12,000 13,714 12,500 16.99 22.843 OCCeI le l, ,, 1,536 1,493 1.00 1,3 1,900 2,140 2.030 2.560 2.150 5.341 2.350 7,993 2.540 7,394 51,321 Cob 17,522 19,227 13,614 30,075 M3.29 26,739 13,46 25.980 13,337 30,029 13.r31 28,106 14,047 50,102 02,115 sitotai 29.774 31,055 25.934 0.650 25.769 37,467 26.498 40.212 2b.997 44.977 28.181 49.915 29.0n7 74.494 156.279 $W. fusas its 22,902 9,954 22,S90 15015 22.902 25.009 22,902 37.48O 2n,902 51,455 22.902 44.713 22.902 75.973 24.532 Total Ats 29,513 309.930 292.123 M22.176 290.775 374,65 289,406 40*.840 207.272 519,52? 400.413 598.540 536,462 729,435 799.017 asse s_n mes ssssse 5 5 n sses seas _555 _.55 net sse5555 es se Labilities * Equity Ewty Matet f*edsi 281,970 276.724 2tS.319 276.194 262.1'9 319.*91 260,096 336.So0 257,4t5 406.535 369.412 436,745 503.555 452,732 484,354 Inturnal dns f#r Pert oweloot 0 0 0 0 0 0 0 0 0 v 0 0 0 30.50 35,304 LIT unees 0 0 0 0 0 0 0 v oS.735 U5.442 0 I3.f35 143.2Q3 Current lias. 3.710 8.113 3.3.0 11.501 3.540 15.388 3.;cv i3,395 4.390 33.346 4,Ni7 18.144 5,350 i4.;24 31,BQ6 Special foubs 20.133 25.143 25,444 34,421 25,049 39,546 25,356 5e.755 25.427 t5.411 :e,.ld a8.204 27.557 87.894 103,ie0 total LU.& Eutv y95,515 309.99o 292,123 322,176 290,778 374.625 289.406 40,.840 287.272 519.527 400.413 565,540 '5i.4*2 729.435 798,017 _se asss _sss nasa _es ..e m _ ssss sse *sss ass as_ essss trirrt ratio 6.0 3.3 7.7 3.5 7.3 2.4 o.7 3.0 6.2 1.9 5.a 2.7 5.4 3.1 4.S oeticoital ratie 5.5 - 13.0 - 21.7 1.. 1-t/euity ratio -et 6 0 15 0 29 29 -bu'r 94 100 85 100 72 72 F__-._ -45- Table 5.2 (b) 4 PROJECT CO9PLET10h EvP1T i~1i PsOT T,iEI PORTS PFEC1 kLOA 2207-C10 Actual a Pro lcted BaiLace SltstS 0o the Port AUtftrtt,. 1910-3 IV s:llltut Bane ver --,1- --1q82- -19"3- - 4 -15- -1- I"? 19 19Q0 Actual Forecast ictoul Forecast Aktual Fwtcast Actedl Forecuat Atual Forecast Actual Forecast Aktual Estaute Assets Fixed assets At cot 739.39 616.59 7i6.39 d81.v0 '95.39 918.5, 614.39 91.67 373.39 1,064.95 935.39 1,132.,b 1.031.4* 1.279.60 1.631.9* Letts Aonreciation 2;0.2b 239.79 247.78 248.65 26o.23 239.73 2i5.50 .27 306.50 272.12 329.54 292.56 355.54 314.61 352.u8 Subtotal 509.13 578.60 528.l 632.15 529.1o 678.63 529.69 721.40 SU.P9 612.3 005.65 69.49 62.91 965.19 .279.2 Currtnt asset Ionvetsr4 25.29 25.4 d 5.00 25.93 24.Gv 24.17 25.00 29.47 26.00 43.82 27.50 11.65 29.50 57.49 ".36 Receivables lo.06 15.32 iS.05 27.42 15.10 36.08 16.41 34.2' 17.61 30.79 19,07 43.16 20.32 100.41 51.99 Ca" 55.iu 41. ;5.1; 05.90 3o.85 80.00 3D.75 127.92 36.&2 139.11 36.74 191.42 36.02 143.48 114.51 Subtotal 96.53 82.59 75.18 113.35 7b.53 140.25 73.16 191.56 30.23 213.72 63.31 321.45 85.4 301.3E 243.Bt Siecial fund 4ssets 36.97 42.17 36.97 4.84 36.5i- 40.06 36.97 57.20 30.97 77.72 36.97 If.10 36.97 305.11 301.51 Total Asstts 642.44 703.5b d40.75 797.34 d42.65 59.14 644.02 97.16 .64.06 1,104.27 726.12 1,359.03 805.72 1,632.53 1,324.65 Uaalatian & Equtv Etutto istate tunIsI 57.24 578.80 556.60 d2.15 559.15 *73.63 556.N 721.23 596.89 776.16 635.84 77.72 712.91 349.8 349.10 Internal funds for port develogeest MY w .Uv v.00 M.U9 0.00 u.0 0.00 0.00 0.09 v.w0 0.0, 0.00 0.00 30.74 367.83 LIT loans 0.ui v.0 v..0Q v.G vv O.0 0. . 0G 0.10 Vi .17 0.vo d4.o7 0.00 61.7. 0.00 84.77 B3.i; Lur-ent ilios. ; .78; 55.29 24.84 74.ul Zb.n ?8.02 27.62 101.22 23.61 114.a3 32.97 187.50 ;n.00 219.46 2;2.07 Special tuno5 47.36 e .4u 57.31 ;1.!B 57.3 102.29 57.32 147.54 56.36 17n.61 57.31 332.05 50.61 447.71 491.14 Total us. L EOUtY 642.44 v03.S6 4.75 797.i4 642.a5 659.14 644.02 977.16 064.00 1.104.27 72O.12 1.055.s3 i05.72 1.632.5 1.024.o5 Curret Ratio ;.1 1.5 i.v 1.o 2.i 1.8 2.L 1.9 2.6 1.9 2.5 1.7 2.4 1.4 1.1 Det:CAuitAl ratio 0.0 0.0 0.0 0.0 0.1 u.0 0.1 0.1 'tet,i9uyty ratio -ebt I 0 4 0 8 0 10 6 Equity 99 100 94 100 92 oo 90 92 Feb-89 - 46 - Table 5.2 (c) CAIN.. PROJECT COI LETION REPORT TIA1NJI FORT: THREE PORTS PROJECT tLOIN 2207-CMI ktual nd Pro Jtue 0lalncA Shets of rbo fort htWnty, IM-1916 1: 0000 ------as --r -- ----- -2 - 196 --- -964-- -95- ---------------96 ---- 5957- 1916---- Base YOw - ---19e51- -1i02- -1913- -190 -1 -IY_ IW INt 199K- ktuai Fartcist ktual ForKcst ktul FPrsuit ktual Forecast ktual ForKut Actual Forecast ktul Estiuta Assets Fined Assets At cost 3W,72 537.81, 394.792 612,948 403.792 672.644 412,792 715.96* 421.792 77n,547 60.230 1,021,559 760,670 1,230.966 1,440.00 51: depreciatimo *6,211 74,494 74.359 70.2S9 93.724 62,770 93.663 85,55 103.002 93.56. 117,770 106,045 134.270 126,030 141,000 Subtotal 320,573 4t.i99 320.433 534,709 320.068 509,074 319,529 *304.97 317,990 665.281 412,460 915.514 *4,400 1.104.938 1.300.000 Current Assets Inventory 18,170 '2.466 16.500 13.848 19,000 13,t37 19,500 13.463 19.000 15.591 19.500 22,578 20.000 19.155 21.100 Receivables l,71* ;.62 2,o10 1.671 2.,40 3,567 3.120 6,650 3.430 6.755 3.170 17.661 4.060 26,291 29,584 Cash 10.494 22,103 10.470 37.426 I1.n;9 41,77 I0.999 115.100 11,370 90.627 11,970 0S.735 11.794 *0,009 60,415 Subtotal 31,919 39.553 31.590 52.945 31,978 59.003 32.619 135.253 33,600 I13.173 35.250 128,977 35.974 105,456 131.100 SgKial Fund Assets 35.149 12.328 35,148 17.92* 35,14 22,204 35,149 32,427 35,146 22.153 35,149 71.003 35,140 105.023 139.IO Total Assets 367.&40 514,200 387,161 t05,5t0 357,094 671,1*1 36.59 70,.0S7 336,98A 920.607 552.858 1.115,494 717.422 1.;l6.219 1.570.700 ases as ess *-m gam ssatsstssasss esem sgas sat assmaass am s eseEs Llibiltl & EOuItY asossgasas ssss Equitv (State tunes) 365.51 479.923 *55,561 556,028 55.216 612.294 354.277 727,695 53.129 6t5.e72 517,608 99,902 681,54i 1,079,726 1,261,000 LOng-tera loans 0 v : u 5,00. 0 1,061 0 8.0.55 0 39,655 33.000 Current hIAos. 5.51, 5.412 4, 50 ;.519 5,43* 3.t2r ,,100 8.487 o.700 2.377 7.550 24.*90 9.;10 22,509 30,00 SoLcil funds 17,917 20.945 20.6i3 46o,Q) o.449 55.141 26,519 5i.e55 27.110 97.297 27.670 lul,047 27,5t4 175.049 226,700 Total Lii. & EQuitY 3i7,640 514,.20 387.161 *05.560 387.094 a711.1o 36,996 79.037 3o.93 B20.MW7 552,859 ,i15,494 717.422 1,316.219 1.570,700 Currnt ratio *.3 7.1 6.o 15.n 5.9 15.9 5.3 15.9 5.0 4.3 4.7 5.2 4.3 4.7 4.4 Deoticapital ratio o.3 0,0 o.1 0.0 2.2 9.0 1.9 1.3 Oatl"uity ratio -ebt 1 0 0 0 4 o 3 3 -Eaultv 99 100 100 100 9I tOO 97 97 Feb-P -47- Table 5.3 (a) 4 PROJECT COGPLETIOi iAiPRT NJANU POST: TUREE PORTS PRWECT iLOAI 2207-CM) Sources A.d Asoliutations 04 Funs I000) kas Year -1961- --5962- -1963-- -1964- -1965 -1914- 1967 19" 19°0 ktul Forecust ktoal Forestat ktual Forest Aktual ForeKAst kctual FOrFcKt kAtuia Format ktual Estiatte Socn ht profito/icoe 26,234 30,632 25.365 3t,331 27,-lOO t,olt 26,505 12,643 25,t70 25.409 24,540 30,442 20.360 92,081 103,667 ereciation t.023 3,t05 7,ovo t.76 8.130 t,496 9.101 6,431 10,;23 11,795 11.732 14.072 15,000 16,913 20,954 State cutrilution i9.104t 25,799 - 35,30t - tu,960 - 52,040 - 10,952 - 21.211 504 - 3wrouing-1R-O - - - - - 45,7t4 - 12,072 - 12,925 - 26.302 43,349 -Local - - - - - - - - 16,002 - 20,00 - - - Otrs - 1.13 - 9,476 - 3,t40 - 2.662 4.034 - t,085 - 1,347 10,000 SuAtotal 25.875 ol,18 32.985 07.901 35,230 77.500 35,t06 121.746 34,293 62,t44 36,592 104,735 43,40 137,227 177,9O Asplacations Capital imp. 10,469 35,502 10,000 34,651 7,000 46,443 7,000 40,470 6,000 46,7tt 6,000 36,86 10,000 75,747 64.047 Not oter Invewtnts - 2,483 - 3,647 - 17,779 - 57,544 - 9.3ti - 7,979 - 1,07 151.,571 Papnts to State - 22,269 24.425 3e0704 20,U25 11,170 26,297 2,t39 20,224 4,775 29.666 5,715 32,934 - - specil fund np. - 3,01t - 1 2.52 - 7,110 - 0 .;7- 26,746 - 41,240 - 35,539 50,034 Loan rpavunt - - - - - - - - - - - 900 - 5,400 11,333 Change Nic&pItal 1,2t0 14,627: ;96 .,701i 20 (3.o73) 110 2.494 200 It,2j5: 210 11,954 210 i3.490i 42,200 SubtotAl 19,729 59.4t0 34.823 77,0* 35,45 60.637 35,407 119.524 3b,424 81.415 ;6,096 1O.65b 43.144 115,233 145,977 Not f4nls floe 4,146 1,705 :3,0636 1,i640 t4i5i .3,337i 199 2,242 t1311 1,049 494 '1,921) .l4 21,994 32.013 Opuino balance 11,374 1?,522 17.522 19.227 13,t64 ;0,0?5 13.269 26,730 13,t468 2.900 13,337 30.029 13,631 20.106 50,102 Closia balance 17,522 19.227 13.d4 3u,075 13,249 26.736 13,460 20,960 13,i37 30,029 13,631 26,106 14,047 50,102 62,115 DIS coser 124.0 - 25.8 - 14.9 6.5 Feb-09 _ 48 - Table 5.3 (b) 4 PIIWECT CWLETIOS REPORT ijMI POT: TWIE PORTS PR1JECT ILOA 2207-CHAJ Seuran P4 Aslicatios of FPits Ii illiami kw -VW --1-"2- -1"3- -14- -1 -196 197 1916 1930 ktul FotfKltt Acttal FrUcast kcttul Forucat kt.l Forecat 4ttul Fwecast Actul Forcast kctial Esltiate hourcen Rt ioritzancth 133.9" 14.01 114.92 11.95 120.r9 23.29 123.23 22.92 121.65 Wa.g 136.22 255.54 140.03 234.43 2W.;3i Dwveatio 15.45 14.95 17.52 15.35 1.45 19.74 !9.27 12.60 21.00 13.65 23.04 20.46 26.0v 22.03 36.07 State co.trnu:tt:e 79.40i *8.1* - R2.97 - *6.02 7-.35 - 54.93 - 10.4 - - - loroe --l - U D - - i7.49 - 7.tv 9.49 - 13.35 - Jopin *3ECF) - 0.11 64.79 3.03 -LoCl - - -- - - 61.3 - 30.00 - 15.00 95.10 Total Sourcs 70.03 99.15 134.44 99.27 139.14 111.05 142.50 131.3b 147.65 204.3. 159.2W 315.1t 14.03 419.61 432.50 App)itcations Coital topngdture .8.37 54.63 37.00 46.10 19.00 67.4U 19.00 6h.33 19.00 98.25 22.00 47.11 23.00 147.74 352.1e Net payments to Stait - 56.72 97.2e e.41 101.11 i5.021 103.74 1113.061 10*.45 61.48 115.26 3.47 11.05 109.85 45.34 Dprsenat: - 6.49 8.7* 5.51 9.23 5.92 9.e4 - 10.50 - 11.52 - 13.00 Specai fonm naipeltture - 15.53 - 22.21 - 24.51 - 130.00 - 35.55 - 220.*B - 163.96 45.51 LOa re"pYMnt-IR-- - - - - - - - - - 4.63 -japan 10ECf- - - - - - - - - 24.27 54.0. -Local 6.64 - _.02 7.09 Assets lev - 9.eO - 9.84 - 10.08 - Is.E2 - 11.e5 - 12.70 Cait wCaptal B.6.7) W27.5) 1.09 1.33;) l1.76i 2.69 v.14i 19.711 1.21 i2.541 l1.20i t17.45) 0.00 (4.111 1*7.42) Totil Aoolications 55.51 112.52 154.31 75.90 137.42 96.05 142.60 83.54 147.95 19.17 155. 14 2*&2.i5 144.75 467.7! 461.47 Not Funds Flop lv.52 113.37i 119.87, 2;.;7 1. 72 15.00 0.10' 47.12 o.O1.I I I. 9 v.R2 52.31 :0.72) 147.;4p t26.91, Openi4 balnce 44.46 55.oO 55.00 41.63 ;5.13 5 5.0 3o.05 80.00 34.75 127.6a 34.u2 139.11 53.73 191.42 143.48 Closing Balance 55.00 41.e3 35.13 e5.ol 3e.f5 80.00 3*.75 127.62 36.o2 139.11 3e.73 191.42 36.02 143.46 114.51 015 Cover r5.91 - 7.75 4.27 F*-69 _49_ Table 5.3 (c) 4 PiOjE T -.OOLELONl RE OAT TlinlJN ATRY: dTT EEFOTS AROjECT L0AN ZZv-COHA Source ud .aol:cations ot FPaos asem ---6v- -I;i2---- ----1934---- ---IvS- ---19ie--- 1967 1986 19ev ktual Forecast ctual Foroccst kczWl Forecast kctual Forecast Actuai Forecast ktual Forecast Actul Estimate Soerce Internal caue qetration 41,61I 57,i?7 46.56; e9.12; 41.675 76.601 50.176 92.725 54.210 15,124 59,726 170.6t7 ;..,70 121.402 152.104 Other UftSr0Fr5s- - - - - - E.00 - 77.750 - 70,650 - 74.020 60,vOO State contributonus l.6o 13.9e4 - 10,679 - 7.540 MIble Sk Loans il - - - - - 4,693 * 7.216 161.a20 - 6.97; %Il - - - - - - - - - - 22.291 35.120 Total Sorce 49.629 71.242 4.563 60.002 47.61 5 6.341 50.17a 16e,416 54.310 261.122 59,726 260.307 o3.730 2e.766 267,224 Irtvtmfts an rene s 41,2;0 4,13t 6,000 3.707 9,000 4.5e9 9,v00 71,460 9,000 59,147 11,00 117,104 13.000 111,573 64.240 Funds erovodec to TACU - - - - - 25.213 241,905 125.712 - 136.611 150.762 Satual fund Pavonts - 4.194 5.20v - o.,76 - 16.277 - - PavaetI to tne State IreCIation - .275 4070 7.414 4,o62 0,136 4,970 5,Do9 - e,963 - 6,250 Into tax - - - - 36,70i - - 0 - - - - Aijusttnt too - - - - - - - v - Otlher gaaeots to State - ;7,71N ;4.495 47,336 34,5t5 23,;75 3e,13; - 39.5o - 41. - *i.5eo subtotal - 4.u21 36.5e5 54,750 ?9,25" 69.216 41.107 44,72e - 46.15. 50.63e Loan repavtonts - - - - - - - - - - - - 4,705 Chanqe in markino capital 5.ve6 5.2Ev 42 9o2 (9501 1.525 110 11.673i 210 (15.457; 1;o 19.560 7 1 ,.311 7,v90 total Apepications 4o,296 59.oi. 40,eu7 o4,a;5 47,07 61,?98 50.21? 113.097 5,.49 265,;95 59.,1 2i2,;°o oi.7Oo 255.405 246.J' Net finos flaw I,2,1 11.009 1241 15,;2. 58e 4.;53 29' 7?3,; 1 71 :24.272 , 00 .1, 69) 17.: 2 618,729i 20.407 hoInxo balance 1.163 lu,494 tv.494 2.103 10.470 ,7.426 jl.025 4i.779 10,09 115,1w ii,270 90.627 11,970 6.,126 6o.00v £10 ng blanct 10,494 22.103 10,470 ;7,42n 1l,v36 4e1,74 10.999 115.100 11,370 90,27 ih.473 6E,726 11,194 60,009 60.416 DlS cowr 3i.2 16.4 Sourcet Tiann Fort Authorittv nd Baot stiff. Feb-9 Table 6.1 (a) 49A, Poll 1 PUon PWICI him 2297.-00I 4.4.42 ad Ivocoil Traffic .4 P41W Cuuhlit,. 4413-2349 1916 4911 1912 491 19114 19115 1916 11111 4449 1999 It"5 2 .E klCtu Ferulast ktIII FPrmst kcIsI Vwout kt1,1 FuAN4t ktmli P.'out ktul fuecolt kt4u1 Ilegrect lst:.. Fuoifot Ao.:f POwcat knoti ruulows I.h Pump 212 319 LAe. 233 en.g. 21 LAe. 329 &, its 4311 M6 L.e M9 N.A. 2 0.4. MW ,13W MW 1.1W M6 oW6Ic 1,524 2.96 L.A. 3.914 Lae. 5,641 N.A. 4.13? a.,. 3,470 2,13 4.113 N.J. 4.42 LA.. 6.9W N.A. 1.41* 4.13 9,3W 3.3W 11,3W rag 1 i,A 3.34 1,9611 3.344 Z.29 $,49 2.211 4,466 2.61 3,6M ;.MW A,3W 3.61, 4,694 G.619 ?.I49 4,460 6,349 5.466e III 6.W4 31.1W Ps4pgw vuits Fump III 111 i.. 19. 2 299L I ... III i.e. 43 260 32 LAe. 414 L.A. 1.522 *.. aW 0* 410 1.341 64 bustac 2.332 2.93" ou. 2.144 i.e. 2.951 0.4. 2,7136 LA. 2.16`3 ].4W 2.162 i.. 3,441 La.4 5,Jo LA. 3,I11 3.10 5,jS 9,4W 6.3 1e44s 2,1W 2,111 i.e. 2,485 a... 2,316 i.. 2,463 LLe 2.9o 33W 3.46 LA.. 4.404 LA I,'M A.&. 43W1 4.431 I,7W 5,9 6.431 Pump I 3... 26.4 LA .. 6 9iL. .eL. 446 1 4.e.. 13 i.e. 1339..A. 2W in 6 01,42 buitc M3 M3 LAe. 464 i.e. 314 i.e. 411 LS. 3S9 4.4 449 LA. 443 i.e. 13 i.e. 421 2."6 431 ?.4W M tdil 724 569 ea. 42 i.A. 411 i.e. Us4 be. 4411 1,4W 311 *.b 51 0.4. IN LA. 16 2.4W SAO3 I.W 2.410 lump VA9 4W S". 4 L.e 4,347 i. .336 I.4. 2,11 2.343 i. . 37 I'M. N.9 .A. 2,044 M9 2.W 3.4W 2.36111 Now"t 36 241 LA. 2V. i.e S9l LA. 143 inA. 13111 MW I99 *A. 54 LAe. 44 LA. so0 316 1.4W So 4.8 WA4 6 29 B. in9 In UV2 I .4M 3.321 Lb 424 431 2.142 i.6 . 3,2 N.A. 2,W LAe. 2,8W 1.3W $JW 1.4W 3,1111 Pump a a.. 9 .e, *.LA. 6 LAe. B 6 2.LA. 4 L. i L. I. 6 6 4d9 9 buit. 46 i. . a3 LA. a sIa. S..e. t6 31 4 LA. 121 i.e. 1,411 i.e. la a Is Mu M 1444 46 2 i.. 23 i.e. 3 ie. L ae. is St 2 ie.. 121 04.4 1.12111 L.4 I3 B21is $.J,1 83 cam* Pump III 46.. M9 i.e. 2WO.& 39 A.&. I17260 143 i.e 1 e III i.e6 29M 3 4a10 bwuit do 219 i.e. M34.. M4 L.e 404L4. III 1 ass L.e. 1144N.G. III i.e. 3t6 M 2no M 27 fiel 319 64 i.e. as4 a.. 143 L&e 449 LA.e 6 310S 2*6 M.e A3 .& 43 AS 4 3.83 I4ll6 1,W 4.4 Pump 44 93 i.e. 314 M.. 2 LAe. 43 LAe. 443 to9 III iL.A 3 .. M3 i.eM 941111 1 4 .11111 1 M .2W bmuil 31 230S.4. 41.LA. 44.LA. 340.6. 49 a3 V7.. 2 iLe. WsLA. no4 23 M3 a 349 tdiM 74 1144LA. 12S .4 MI i.e. 4374LA. 642 Id6 374 N.e. ,1.3 LAe. I4,34 0. .4.4 [i 3764.2 2763I'm Pwm 46 429~~~~1 in e Is ... 93 L&. LA6... 1 Jo8 99 LAe. M44LA. M9 N.e. 41 M a M96 a ~~44t 41~~~~~I 41 i.e. 46 4i.. lb LAe. 429 i.6. Of 6W 139 L&e 4,2311 i.e. 4,411 i.. . 4,4W11 14. 41,311111 4,31 Mgd L&24 i.e 2 one 4 N.A. M9 4. W 444 M3 i .0444 4.4. 112111 IAN 34 4.36 I'MW 1.6 4,36 Sme Otilitolnu .me 727 1114 i.e. 19 A.. 941 i.e. 4.901 i.. 943 6W 744 LAe. t.6144 Ae 2,113 i6a, 2.1W MW 2,40 3.4W 23111 built IO ASS L.A. 444 La.. 49 i.e. 141 0.4. 'It S I 4 14 .e. 3,321 i.4. 3.301 a.. 1.4W Ad 3,64 "O 4,6311 tiltd I,nf 4.391 N.A. 420. o 4,L4A.. 4,7 o s L. i i.e LA .2 ,4 .1 i.... 2.763 i .e 4 0.4 . 5 4.469 2.139 1.9W 41266 kit Pump 4 4 i.e. 4.. ee. 490,4, *0 * 0. e. I .. o * * Boiesm li2 94 iLA. IV 44 373 e.. 34 .. 4I2 4 in M I .e. 459 ee 9 s i.e. 54 us6 199 591 11% t4td 422 OfiLA. II7 L.A. M7 N.A. 4140.4. 446 2M 2134LA. 15901.4. 592 i.e. so9 S" 36 III I44 frau pumcps 3,431 4.31 N.A. 4,27 i.e. 931 A.A. 4.041 J.&. 9 14 .46 3.23, * . ,43 L.4. 14,4 0.4. .3. 11 4.444 4,77 4.7W 4.03 1SanoIC 163 113 0.0. V19 0.4 32 e.e 22 N.A. 432 M5 734 1.. .940 L.e. 3.449 LA.. 2,444 PA9 2.11W1 WO 3.32 tow4 4.764 4,9W1 LAe. 2.144 LA. 4.323 LA. 1.29 LA4. 4,446 2,431 4,469 0. . 3.3 i. .34171 .e 3,9301.2,41 4,436 2,64 1,216 km" Pump 4,679 4,W 1,41 4,427 4.03 3,637 3.933 14,64 2,42 3,49 2,329 3,249 2,147 3,374 2.415 4,426 2,293 3,94 2.249 4,634 3,164 $,US how"a M1 44 L.e. 4140 0.4. 79 i.e. 529 n.e. 464 M 4,476 L.A. 2.419 N.A. 52M e.4. 1.8311 4,92 2,434 4,44 2.9144 343td 2,433 ?,M4 L.A. 2.13.1 L.e 2,414 LAe. 2,424 4.4. I,23 3,64 4,476 i.e . . 1.633 i. 119,4 i.. 641.3 3,83 ?1,111 4.9W 9131.11 Pump 4,929 1~~~~~.42 L 3. . 513 i.e. $.41116 L &..4y L I' 6,43 .e ,12 4,4 1,731 LA. 10.144 LAe. 12,142 .e. 12,414 f.719 41,69 11,419 49,630 Sunlit ~~~~ 71,4 9,960 0.4 9,447 L.A. 36,411 0.A. 9,49 iLA. 9,464 1,346 40,633 LA. 16,062 L.e. 23,11 i.. 21,449 4,39 8,044 22,36 So,^ lidd 12.144 31,167 i.e .41,9 i.e. t44W i.e. 45.464 i.e. 1.,693 16,36 4,111 LAe. 2,74M i.e. ALM21 I.. 2,446 27,4 44,609 $6,. 44,1W Pump M2 2,9d L.e. 3,111 LAe. 4.422 LA. 939 me4. I'M9 4W 3,913 .e 2,996 ie 3.4W i.4. 3,499 3,44 3,5W3 ,2 .1 4.629 Image 4in 4,449 i.. 2.436 *.e. 449 0A., 12 iLe. hill 2 341 i.e. ,41. L 0. . 4219 oe 3.614 Jig19 ,523 32 4,739 tltd 94 ?.41 LA.4. 6,3 i.A. 4,432 e.e. I,69 n.e. 4.544 4,431 4,3 LA. A,M i.e. 4,27 L.A. 4,83 1830 5,4W 14,4 4,S30 Puip &ie. 04 4.4. i.e lit L.e. 4IN La. 341 4* .e. 0.46 0.A. 41 ,. ie.4,W W 2,3 1 .4W 341611 built 93L.4.04 i.e. i.e. I I.e. 40. 6 is I3.4 L,4. iLe. Lae. N.A. LA.. 13 6 269 6923 tdd v~~1 43 i.e. 31 i.e. lit LA. IN LAe. 344 4* SW2 44 446 U0 I1N 36 4,41 4W 26 i,4W 3.4 bUfteS tl " Putt Mst, Pu. jul di". -51. - Table 6.1 (b) kmbt ~1.9, 6O 1 .4. .4 im 6 39133LV.1 us.6 41.41gm1 1 990 4 S.. L= ca 1 " Ia.144 6 999 0 u6.s0 14 39441 d 96W Sell41 Lua. 41.923 Lfu 341.3 759 917.* lu.,t 9496411 $SWEat f41.1 tla. 161,.93 .S beg41 kI Sugla 36,19W Ff343 SMimo lugeel 11 lla as .A9 13 34 .&., 94 *4.8 4.1m a.. 3L9 iL 939 1 93 I14 4.4. 1032146.. 194V I.e. 79M 34 9 z.99 134 14.54 u.1141 n.m3 La. 33,111 ca. 104411 La. .. 31,1 s. 41,361 1$,11 91.44 a.&. H,11 a... 44,944 ..a. 14s,39 99,9W .1,a 99.9W 13.w lsump SolW I 1.4 6 ..a 9113 6.4 .3U La.. 9410 s.c. 5.4% 1 1,= 949 6.*. 1,99 1 .16. 1,901 S.A. 1,144 1.29 1,W 1,31 l,M ad.994 Un69 Lta. 9,599 Au. .29 ,1 6"44 ma .91 ea. 90,399 $ 13,34 3 6..1..14,53 a... 14,271, N.A. 1.14* 1.9W 13,93, 1399 ta.3 0"01 a,1.11,133 a ll.ie.s3 a... 1.3m a.. 9,194 a.4 .. M3 1,40 141639 0..6 11.3 a... 11.33 a... 13.44 14,4 113.19 I'm49 5.3 uMpM 441 S.IM a... 3.4114 Lb4 3.411 a... 14543 L.a. 1,131 9.34 2.445 0.4. 5.93 La. 13.7 66 '.I. 3. M S.IM 3 39 .93 4,144 as,wa0 i.m0 9.*. 3.43 9.4 3.11 11.4, 1.911 *6.b 12,914 I,34 1,941 6. 0 461 4 4. . -8 ',949 @4.- 4.34O ?.M4 7,9941 1.M if.141, SAM .6 9,413 *.j. ?,9l7 14. .14333 1.46 7,431 9. . 44,3 4 1159 St.9 *.a. 11.9 13.. 14,1 L.a. 19,90 41.14 13,3 t.14 t3,1 Swua UV1 61,11 LI.6?.3 1 6139 I.O. 3.1 L . 4,13 a., 7,97 3.111 7,9141 6.4. 4.361 S.a .3 .. 1 4.9WL& Isas I,$* 14.0 394 3,141119 bm g See 3.9 Lab 4.1 Lb M.1 LI.& I,n3 94. 9,91 4.9 m,l4 s. 1.4 M.&e 14 L,a. Us99 1. 1. 1.4See 5.194 4,4 4.493 3.67 6. sou *... 1,3 LI. 4, a,. n3,911 OR44 1. 99 ... ..s 0..6 *% 6.46 i1.0 1,, 1.1101 SIM 11.19 lump Ml 1 LI. 1443 .46 . 14 LI. SIM .4. 3,21 14 3111 0L SIM .4. S372 LA, *4 a4 33 I'm SI 1,494WI 4.933 LI.6 7,4111 &L MIS3 LI. .134 L&I.W99 4.914 1,1111 01.4. 1,3.99 11.4. 13.141 4.L 13.9 SIM9 11,19 IZ 11.9 UN14 S LO9 LI. 1.Y34 L.6 1.403 LI 9.913, 4 .SS 9,LA 4,.341.414 LI. J1ai 6.4. L1.11 Lbs JIM11 19,3W SIM9 ,10.9 .11. lump 4943 4914.'. IAV LI.101 5.4. 1. LI. 9431 39L 331.La.1LA La. LI ..a. 43. 94.1 914l 9W0 9 %M 3: U p 1 .42.3311 Lb o 39 L . L 149 474 I3m Ls. SI1 a.a. 334 Lae. 39 64M 34. Live 414 5991 64 IN I.& 442 I.& 431 LI.& US LI. 71.f 1.24 13 LI.4 9 4. .4394 9.4. 1.,43 1,19 1,394 SIM4 1,= lmum 934 3 &LI 1,1 a... 3.494 I.a. 1.131 S.&. M,3 169 3,11 1.2.3.3 4... s.mn La. ?v9 "O4 n14 1,93 s.m bEil 1,143 lIM 4.e. 1,99 LI. 1.90 LO4. 21,411 LI 1.113 1,1 1.4394 9.. 131 .4 3,994 0,4. 3.34 1.9W 3.93 13.9W I.,13 Ii. 3.9 lA 9..31.4. 4. OI ,933 L&4 I. a... 5.3 a.3 1,1 i.. 4.4 L.a. 4,1 N.A. 5.9 3,2 14 ,94 5.4 1wap .31 0.4 144 LI. 1.93 LI. 194A 9,. i.4t ija 464 LI. 643 lb 1.a 6.4. d01 444 930 2.411 ?. 1.73 I,.3 64. lA. L. ,11 L I. 1,06..23as LI. lAWl SAN4 3.136 3.493 6.. ,49 eu. I.M94 6194 9.13 0111 4,jw 9.14g 2,36 3424 OL . lA a... 3.394 Lt. $.A o.4. lW4 2.93 3,9K La, 4,114 e.g. .464i *.a. 13, 3 . 99 4.34 4.91113 1,9 ledg 1.923 9.413 .. 6L101 .4. 1.63 La. 1,13 e.g. m.0 '14 943 6.4. 1.3I *..e. ?.L3 a.4. 1146 9W* 6z 9W .9W '.M 7451 3,A14 3.94 9.7 3.27 . a. M . 9 ...0 6 3.76l 131 6,4. 1.113 ?,9W I.99 61 ,93131 6.4. 3,654 6.39. 1e.64 30.444 IZ.91 3,lega 1,3 lt* Pupv 4ll 96 .4. a 4.I. i 99 .4. n 49 .4. not 4m 012 26.4. 144.4. I4 6.6. 943 X I .40 H.41 45.3 16414 61.377 balle 11.3.1,44 a.. I2.e1 41.4.1,1246 La. 1.79l 1.11,19 1.7U 6.4,.1,401 6.4. t1.446 6.6. 21.910 ".9W 3.4qa14 3.1a4 13,93 Pump 3,9 1.41 9.4. 1,13 La.4l.M39 6.46. .3.40 .. W.913 3$,M 34~ 3. 41 ..6,1.43IS41. 3,74 6.a. 3.944 4,194 3,43m 1,594 3,394 tu". 4JIM 1,437 1,317 1.44 lA - ?,137 4.59 1,43 A.& 114 4.99 4,144 ." 7,741 4 411 7,93 4 9,441 9.519 14.340 14.. 13.954 ,6 11.99 54 3-Itu 2.1,91 3.14 8.4. 3.413 La. 3,716 L,t. 1.931 *.& 4,U0 4,34 47.43 1.16 49,141 6.4. 4,9144 N.A. 4.159 L.a. Wall4 9,4 II^ lul SIM4 ax35 6.4.34,499 #.*. 4.9 ka.I. 1,3 6.. 11441 5,90 .14.3 N.G. 8014,44 6.6. 31,91 6.4. Six% 141.99 634,419 3,101 34,14 4mAig 4491 US79 0.a. $14. *.*. 6344 I.&I 19 *.46 94,J9 41.194 '5,143 4.4.1,1211 6.4 . 43.14 6.4. 147,91 97,99 63.4 11.0l9,00131 Wal WAW~~~~4 139 .4941 Lae. 9199 4,.194.4 4.4. 11,3139 13.9 4.46134.9 .6.4 133.4 L.I ?R.3 I89 in.9 999 19,9 lump. ~~~~~3,33 4,44 8.6.4. .4 46.4. 7,33 L& 9,W . .& 1.1,114 .93 1,.44 J.IM JIM9 4.24. 19.Sal .4M 13.91 elm4 15.4 7.IM 17.9 3,11 34.34 .4. 7.3 6.434,94 94. 3.94 6.4 3.33 9194si Fa P. . "WWI Wsa he14 Sulam th.en t 5,194 1.13o taw 9 3.4Ia94a look4 itis HMOat,d47 Cod. 3,7 Ila o m ml no r ms. lo43t.. 931 L. 943 ,4 tota 14 6,, " 34,994 * a" 51,144 ga. P too1 11.4 43,13 13.11414,wl I …' ti KO k i 0tl w pW a "w 0i h i w W tost ow,WI 34394 f.3 f"411993444 n Om*W -52 - Table 6.1 (c) 1049009 WIt fIon MM31 pG T -1IoW 220Y1Cl9 9tuO .gA FINKaI traloitC of a, CaNI,0lf. 19110'2049 IOII 09113 kin O too4 lW 1016 o91 i196 0999 0995 290 VWu 697.4 rOUaf 697.0 fuuK.4 69011 FVUut 69t.0 FWKatt itul $wom it 6tsaO 1gfej4 actual 'wnu.t Otitl. FPufnt. 6kilos PFortWt 6961ws 9vw*t 69,11 rump 9 9 na. 14.... 091.a. .4 ..a. 9 449~~~~~~~~ ~ . .....Sn .... ..... . .. ... .0.... .*... .--49 -- -,4 - -,9 - 9 --- kiWi: 2~~~ 9 a.a. 0 n.e. 9 L.a. 13 O.a. 9 II III . III LOa. I'M1 L.. 2.49W 9 3.109 9 1.M0 ids l 9 n.46 14 *.a. if L.. 04 l.a. 04 4W6 lb a 299 O.#. 2.213 *.. 2.1W6 I'MW 3.9 I'MW 1,9 P-Wn 119 M9 aa. 3111 ..a. M7 M.. 4 a.. 32 3W 219 8.1. 2*9 l.4. 212 L.e 4W M 2.909 soW 7,6 hunt. 319 304 ne. M14 .a. 194 L.S. 090 C&e 134 229 24s.a.. 4060 m. so *.a. 0.839 0 Ldt2. M 690.9 Tetla 931 93 0.&. 990 L.a 65 a.a. of A.a. 402 I39 661 a.. 1 *.a. To .a 2.499 0.36 1,410 $.9W MM, lump 21 29..a0. Jo9 'a. 14.1. 1.4.t O.I PI it lo e 94n .e. '5L.a. 2,66 is 313129 M33.6 kinUt 9 9 La. I a... 2 La. 9 l.41. 9 4 950 .4. 9 .a L a. 9 9 9 9 0 Iral 23 29 a.a 39... 4 a... IS a... 0? 28 to a.. 944 ..&. 91aLs. 2.61 31 S.309 33,9 lumP 0,M3 0.8 a.46 I.91 a.O. 2.011 U&. 3.319 I..a. 4.9U1 0,19 .440 1 e 2.979 0... JIM1 A.&. 3.4W .119 LWm 0,4 2.1W buNew M9 M1 l.a 2V9 la 39 L.. 3 l.a. SOS 41 409 6 Ba.' IN9 L.a M6 l.. 0,99 no6 0.08 39 Ij fdal 0,413 0,89 a.. 2.013 a.. 2.3 SAO 3 ma.1248 0.M9 9,9949 LM.332 .a 3,319 I.. M9 I.4M 4,6119 2.1W 99W leap 37 98 (.a. S ... 12 a.&. 93 .a. so is3 7 1.a. 10.. Ili a. 94 of to9 M bmwit V~~37 M9 a.. 9 a.. 0.930 L a. . 0416 a.. 0.22 7W I.1161 s.a 8 a... 9 l.a. 1011111 0.0W 2.W 0.4W 2.19 tag 404 33 M.. O a... MI.493 4 a... 0, 'a. I.3 I" 10.10W n.a. 9201 n. . 0.0 L.a. 0,96 0.109 I.3111 I.8M 3.9 Fwgp 211~M N I.a. 3 a.te 4M 'a.& 9390.m. 399 M9 04b .&a Is . 9 l.6 OW 99 9 9 9 9 9 a... I a.. 4 a.a. 0 I.n. 9 6 9a.a. 9a.a6. 11 k.. I 9 9 1 lag VS U 168.. M L&a -0 a.a6 SW L. 399 M9 146 l.a6 If l.a6 a1 . 19M 499 M* *99 M lodw lade It 95 a.. O a. 39 a. AS1 a.. 9 4w 38 .a 211 l.a. M4 a... 0.1 M6 I'mW M 2.11W1 tia 9 ga '. 3.. a. S 9 3.. 9..aI. 39Um.a .M M IOW o 03 0 FWi 69 U a..12 a.. 13 ... Xi a.. SU 943 La.. .u R.&. m0 n.. ifil OW 3 349 , lk6ip 4W O a.. 9 a6.. 9 a... a331 a.a. 1 19 O .. 2 La.. 999 8a.6 16 to to 0. bunt. 40 019 la 00 .a.& 41.... OIL... l 0 S" 90 .6 0*1La. to19.,. to6 a 9 14181 lassoug a96 414 a.. s* IS. a6 O.a. l1 L.a. II2 97 40 sa.91 *.6*.I C 0.P1 1.1. I6 39 W SW 0. lump 79~~~4 S"9 a.. B ma. 311 ... .1 0 ... .9 I,1m 129 a.. 1 a.. 1 1* .006 1,499 0.109 016311 1,1W hugioc 0~.219 0.566 *a. I.469 14 .. 0.0W11 O.S. 0,21 n.e6 . 0 4 1 50.311 0.0 a.. 2 L.e s99 l.a. 0.5 0.1111 0, 2.06 10.6 7.4 0,993 0.9618 G.&. 0.14 a.a. 2.98 *.. .944 a.. 2.026 2.5W .0.63 1m ,063 ..a 964 I.e1. 2,149 3,2W1 2.96 3,19 3,49W lumip Liu0 I.w3 n.e. 2.498 a... 2. 0 ..a. 2,J44 n.a. 2.310 $.MW 2.3490 a 3.91 aa 2.901, .e 2.50 1.M2 2,5W3176 3 0, lent.. 9~~ 90.96 2 u... 3 a.. 03 l.a. Q2 0 3941. 9'..a 68 l.A. 0 e 9 0 Ttal 2.912 2,434 ma4. Z.4908 .m. 2.99 0... ?.01 n.e 2.513 3.289 2.92 u. ,134 .. . 33 a... 2.38e 3,914 2.16 5.38 2.130 F"v ~~~~3,93 3.000 Sav94 S.=3 SI18 3.532 5, 3.993 4.M3 6,749 4,19 1,29 ,449I 1.3 I,12 9,494 1.13 ?.1W 9,931 9,931 9,063, 9, lenat. 22 093 'La. in a.a. 2 13 g.. M6 n.e. 21 OW me I.&. 234 a.a. 949 m.. MW S"8 0,69 MW 2.2 liii 3293 32Mil a 3.161 04 J.. IM3 a... J.90o L.a ,491S 4n.1 113 L.A. 9.009 a... L94 L.A. 8.40 ?,22 1101,11 9,911 tf,1 lugOp ~~9,294 9.494 LO. 9,912 a... 00.100 g.e. 12.419 l.a. 14.493 Uj".1904.6* 4a. 04,312 a... 01.143 va.. MM9,963 0,09 2.018 3,19913 .999 huN.. LO4 2403 a... 2.199 n.e6 3.92 Ia... SAW8 1..a. 13.9 3,9 3 3,53 S .,a. 2,69% R.a. 1.321 a.&. B."61 4.116 IM41, 1.110 0l.109 ldag 00,93 00,71 L.6.a it. a... 01.9 Ia.' 09,108 a... a 6. 1819 0. 19 910 ma. 07.11 ca.. 2.0.911 c.. 11.1111 32.9W V1 39.301316.411 lump 2.099LI 2.9p l.a 2JI1M . 2.479 l.. 2.144 n. . 0.2 3.06 2.29 n. . 1.4 i. . 3,40 L.. 1,96 4.4W 9.9601,19t 9,93 kt16 LI in2 a.. 094 to. 4 a. 033 A.&. 109 OW M9 ... 9 a 429 L.. 5W soW .0.9 909 0.9 1.619 2269 2.32 a.. 2.1113 LO.2.2 Z.. 2.2 i. .us38 3.911 2,ti u. . 109 i.e. Lem9 a.a. 1.04 4,989 1,693 5 3. 1* Frump. 093 int III I.. 39 a. 3 .&. 319 O.a. M9 I.9W 10 0.69 6a 1.1310 a.. .4 9 a... 0,9 3.8 3,1M ,498 4.9W lowhe 1~~7 Q2 a. 0,14 la "O a.. 301 U. 3 9 3 ... 1.... i Isa.. I I MW 9 411 794 3 29 .. 30 .. 4 t.o. 94 a.a 9M6 .3191 0.d 2,9 0.1059 2.99 .0.99 3.331 0.6 1.90 3.W 6.6118 31.36 hum 1 ble Wkt. NO34 .7114. Table 6.2 ffi2E.T C005ITtlIIW QEPOSt inftE tS PT JECT *LOIA 2207-CSI Acui 1... @09 01th# ltua l Shia I is fitO ------------------------ --- - ---------- - - - -_ - - -- ---- - - imrel CC'. *nt4ther Coal 19 1OF7 1 1900 1007 9 93 OF s40 *W Port I. Predutcu tin at utn 5.ii 3.i2 L. 9.32 ).et .* 2.0 2.63 t.43 2. olsumc tile A. Go to grt 2.05 2.35 4.i3 0.57 v.12 1.40 v.57 3.it4 3.0 5. kg t o ip 0.04 i.09 v.Q5 0.00 0.73 0.19 0.01 0.14 0.02 c. on to carl w Mee v. 93 v. 14 v. Ov 0.44 0.43 o.22 0.4 0.10 a. Otbu n.71 0.43 v.47 0.05 V.05 0.00 0.35 0.43 0.10 Sutotal 4.27 s.as 5.e4 0.02 1.34 2.1U 1.5 5.0 L.23 3. mitSw stwoap 0.04 v. .3 0.i3 9.0 . v.S7 0.25 0.40 M35 0.57 total Nvorm Fort 04Qy Per Ship 11.04 7.05 10.20 1.02 2.39 3.09 4.v9 7." 5.07 m _.m was" in... *.,m sum - Total mmur ofdi" 251 4o 440 4. 1l4 I1I 112 IS 20 aeeas: Part 1. Pohttlsv tim at eorth ;.12 2.1V 2.01 2.24 9.40 0.40 2. SuSoreut.s- tles: A. Oee to wort i.S9 0. 0.05 Z. 31 ..19 0.27 B. Ou to sale o.S 1.05 0.45 i.Su 0.20 0.30 C. am to t arpo tr 1.40 1.55 2.00 v.03 v.65 0.05 4. Otbkrs v.23 1.45 0.75 u.Il 0.35 0.53 iSutotal 5.55 5.00 3.90 3.30 1.50 1.45 3. eats stospe .40 0.50 0.25 0.25 u.05 0.ul Total 4araq Port laws Ps rut. 9. Va, 7.50 o.15 O.3A L.95 1. t. . Sn .... ..l -at. RO Total nu.aO ot sis 32 e, e iht' 348 ;Ce t1pjis Pert I. Prectvse tme at wtru 2.20 2.i0 2.50 0.50 v.30 0,40 2. wrojucwtse tian a. gu to port *.30 I.50 2.40 1.00 o.40 0.Tv b. In to ap 0.90 0.10 v.10 9.00 0.10 0.00 C. Sw to tq0 eatm 1..20 I.30 1.10 t .40 0.40 O."0 6. Dlofs 0.00 0.30 v.s0 v.00 0.20 0.20 Sutetal M.5 3.iO 4.20 1. 4 1.50 1.50 S. atbr sto"o" 9.10 v. 40 o.20 0.00 v.0 0.00 tdul buraw Prt bn Par 911P 5.90 5.00 e.T 1.90 1.60 2.0 am.. mm a.. flf mm m total _O 04 shli 1.384 2.223 2.5n ,.. 470 565 1_. bFct tbe data to hisagg as iiqaaqa w ports mtch tcoves col' frsnp trta c :ilhut,e Sales, all tu rtost data cowms tit d"ol Pot. h2. Sm' tin l I, .July-Oocglef. T3 S,tal Usslp tra#fic ships for all teo_ltuh. Sowc"s:l NX.The Port Astsoert:ng ai lot stiOt. Table 6.3 (a) -54- CHINA PROJECT COMPLETION REPORT NUANiPU PORT: THREE PORtS PROJECT (LOAN 2207-CHA) Operational Parameters Assused for Economic Evaluation (Efficiency Indkcutors- Coal Berths) --- --- --- --- --- --- --- --- -- --- --- --- --- --- --- -___ _ - --- --_ -- --- --- _ - __--- _ hithout lith Project Project Existing Existing Proposed Coal Berths Coal kerths Coal Berths - Berths tntmberl 2 2 2 Cranes per berth (number) 2 2 2 Average crane productivity per hour (tons) 120 120 320 Average working hours per day (hours) 16.3 16.3 16.3 Throughput capacity per berth (tons/day) /-I 3,912 3,912 10,432 Berth operating days per year (days) 320 320 320 Maximue berth utilization (W 95 95 95 Maximus annul capacity per berth ( 000 tons) 1,199 1,169 3,171 Ship arrivals (scheduled/unscheduled) Unscheduled Unscheduled Unscheduled Average ship size tDNT) 11,000 17,000 17,00 Average snipeent size itons) 1,000 1h,000 16,000 Cargo value (Yuaniton) 120 120 120 Average daily ship cost in port (Yuan/day) 12,580 12,580 12,580 Unloading/loadinq cost iYuanIton) ,) 1.00 1.00 0.70 Notes: til theoretical dailv berth capacity 2 cranes per berth x average crane productivity Der hour x average working hours per days. Qil theoretical annual berth capacity a theoretical daily bertn capacity x berth operating days per year. uiiii auisur annual capacity per berth a theoretical annual berth capacity x maximas berth utilization. i_!: For lightering operation, throughput capacity is taken as 501 of normal berth throughput capacity. I_2: Figures in the table are costs for normal bertb handling. If cargo traffic exceeds 951 berth occupancy rate, idditional cargo traffic will be handled by lightering at three tiens the costs for normal berth handling. Sources: HOC, The Port Authority and Bank staff. Nay-BY Table 6.3 (b) - 55 - 3 CHINA PROJECT COMPLETIOII REPORT HUAN6PU PORT: THREE PORTS PROJECT (LOAN 2207-CHA) Operational Paraeters Assumed for Economic Evaluation tEfficiency Indicators- Container lIrth) -- - - - - --_- - - - - - - - - - - - - - - - - - - - - _- ------------------------------- _- ---_-_ Without Proijct With Project Existing 6eneral Proposed Costmiwr Cargo Brths Berth Berths (number) 51j1 1 Crane per berth (number) 3 2 Average crane productivity per hour (Tons/TEUsi /12 26 20 Average working hours per day ihours) 16.3 16.3 Throughput capacity per berth (Tons/TEUs per day) 1,271 652 Berth operating days per year (days) /3 320 320 Nlorul berth utilization (1) 95 50 Nauxiu anual capacity per berth (I000 Tons/TEUs) 386 104 Ship arrivals Escheduledlunscheduled) Unscheduled Unschduled Average ship size (Tons/TEUs) 12,000 14,300 / _ Average shipment size (lonsiTEUs) 7,000 800 Cargo value (Yuan per ToniTEU) 2,000 35,000 Average daily ship cost in port (Yuan/dayi 13,320 19,610 Uiloading/loading cost (Vun per ToniTEU) 1 5 26.0 45.0 Notes: ti) theoretical daily berth caiacxty a cranes per berth x averaqe crane productivity oer hour x average working hours per days. (iij theoretical annual berth capacity * theoretical daily berth capacity x berth operating day per year. (it) muamuu annual capacity per berth * theoretical annual berth capacity x maximue berth utilization. I1: Foreign going general cargo traffic only uin/out). /-2: I TE; s assuned to be equivalent to 10.00 ton. /13 For lightering operation, throughput capacity is taken as 501 of normal berth throughput capacity. /_4: Equivalent to 1,000 teu ship. /_5S Figures in the table are the costs for normal berth handling. If cargo traffic eiceeds 951 berth occupancy rate. additional cargo traffic will be handled by lightering at three tins the costs for noreal berth handling. Sources NBC, The Port Authority and Bank staff. May-89 -56- Table 6.3 (c) CHINA PROJECT COhPLETION REPORT SHAN6HAI PORT: THREE PORTS PROJECT (LOAN 2207-CHA) Operational Parameters Assumed tor Econouic Evaluation (Efficiency Indicators- Container Berths) Nithout Project With Project 6eneral Converted ---- Cargo Container Container Berths Berths Berths - - - - - - - - - - - - ------- Berths (nuder) 19 / 1 2 2 2 1 3 Cranes per berth (number) 3 1 2 Average crane productivity per hour (tonsITEUs) 22 20 20 Average working hours per day (hours) 16.3 16.3 16.3 Throughput capacity per berth (tons/TEUs per dayl 1,076 326 t52 Berth operating days per Year (days 320 320 320 Ma;xius berth utilization (1) 95 50 50 Naxioeu annual capacity per berth QOOO tons/TEUs) 327 52.2 104.3 Ship arrivals (schmdulediunscheduled) Unscheduled 1nscheduled Unscheduled Average ship size (OUT) 12,000 14,300 1_4 14,300 1 4 Average shipent size Qton/TEUsW 7,500 700 700 Cargo value (Yuan per ton/TEU) 2,000 31,000 31,000 Average daily ship cost in port (Yuan/day) 13,320 19,610 19,610 Unloadingiloading cost (Yuan per ton/TEU) 1.5 26.0 45.0 45.0 . - - _- - - _ -- -_ _ - _ _ -- __ - - -- ---- - ------- - - -_ Notes: (i, theoretical daily berth capacity ' cranes per berth x average crane Productivity per hour x average wtorking hours per days. (iii theoretical annual berth capacity z theoretical daily berth capacity x berth operating days per year. iiiz saiiuia aiuaal capacity per berth tneoretical annual berth capacity x saximum berth utilization. /1. Three general cargo berths are converted to container berths. leaving 16 berths for foreign trade. 1_2. Two general cago berths (District No.10 are converted to two container berths in 1985. 1_3. One general cago berth (District No.9) is converted to too container berths in 1986. /_4. Equivalent to 1,000 TEU ship. i_5. Figures in the table are the costs for normal berth handling. If cargo traffic exceeds 951 berth occupancy rate. additional cargo weill be handled by lightering at roughly three tims the costs for normal berth handling. 1_6. For lightering operations, throughput capacity is taken as 501 of normal berth throughput capacity Sourcest NOC, The Fort Authority and Bank staff. may-89 57 Table 6.3 (d) CHINA FROJECT COMPLETION REPORT TIANJIN PORT: THREE PORTS PROJECT (LOAN 2207-CHA) Operational Parameters Assused for Econosic Evaluation (Eiff:ciency Indicators- Container Befths) Without Project Kith Project 6eneral Converted Cargo Container Container -- Berths Berth Berths Berths inumer) 13 111 3 Cranes per berth Inumber) 3 2 2 Average crane productivity per hour (tonsiTEUs) 22 20 20 Average working hours per day (hours) 16.3 16.3 16.3 Throughput capacity per berth itoes/TEUs per day) 1,076 652 652 Berth operating days per year u days, 320 320 320 Naximus berth utilization (1) 95 50 50 Naximue annual capacity per berth t'ujOO tonsiTEUsA 327 104.3 104.3 Ship arrivals (schedulediunscheduled) Unscheduled Unscheduled Unscheduled Average ship size thOT) 10,000 14,300 /_2 14,300 i_2 Averge shipsent size (toniTEUs) 4,800 700 700 Cargo value (Yuan per ton/TEU) 2.000 20,000 20,000 Average daily ship cost in port (Yuaniday) 12,950 19,610 19,610 Unloadingiloading cost ifuan per ton/TEU) I_3 26.0 45.0 40.0 Notes: theoretical dualy berth capacity a cranes per berth x average crane productivity oer tour x average working hours per days. iiil theoretical annual berth capacity a theoretical daily berth capacity x berth operatinq days oer year. tiaiiu aximu annual capacity per berth a theoretical annual berth capacitv x saximu berth utilization. ,1. ComPleted and operated in Jan. 1981. 12. Equivalent to 1,000 TEU ship. 1 3 Figures in the table are the costs for normal berth handling. If carqo traffic exceeds 951 berth occupancy rate, additional cargo will be htndled by lightering at roughly three times the costs for noreal berth handling. / 4. For liqhtering operations, throughput capacity is taken as 501 of noreal berth throughput capacity Sourcns: OC. The Port Autnority and Bank staff. Nay-19 FNUElP1316 PIECT ILOM 2201'-CU ECuouac FrsjKt Cost £90 I*£ M99 193 113 £94 93 15 M9 Total LKcal Foregp Total Local Foreip Total Local Fwreip total Local Foriip fatal Local Fwrnhp Total Local Foweip Total Local FPrp fatal Local FPinu total LKcal Fwump lotal flamase Cast Icorrot p acesla ---- - -- - ----- -1_2 00uaj 0.06 0.00 0.06 0.09 0.00 0.09 1.27 0.00 1.21 12.12 0.00 12.62 1.M 29.3 40.73 11.01 1.75 11.11 £9.30 8.30 31.11 3.3 1£0.11 14.72 65.69 56.30 121.9 baapa 13.93 0.00 13.93 4.04 0.00 6.04 11.17 0.00 11.11 6.25 0.00 6.25 1.25 16.3£ £1.63 9.99 4.32 14.31 1.59 4.63 6.21 0.00 6.05 6.05 55.24 31.37 £1.61 Sban*ta 2.38 0.00 2.33 10.23 0.00 10.23 16.9 0.00 14.9 14.34 0.00 14.34 13.53 23.49 31.02 24.57 7.60 32.17 6.37 9.50 16.31 7.57 MU.3 20.93 94.48 53.94 150.42 flailo 22.16 0.00 22.16 15.40 0.00 15.40 32.21 0.00 32.21 34.09 0.00 34.09 30.16 4.69 42.35 44.38 27.22 13.60 21.00 11.62 39.63 0.00 6.97 3.91 209.40 59.51 268.9£ I total 38.54 0.00 38.54 31.62 0.00 31.82 41.59 0.00 67.59 61.30 0.00 67.30 64.75 13.94 £31.22 92.00 44.39 £IS.M 49.34 41.01 90.33 £0.94 39.24 50.13 421.81£ 201.11 622.92 Ecuouaetc Cast £199. pricesi: mauum" 0.le 0.00 0.10 0.15 0.00 0.15 £2.15 0.00 £2.13 20.65 0.00 20.65 13.06 61.60 B5.117 15.30 HAS4. 30.23 26.91 11.19 37.99 4.23 12.39 16.62 97.94 105.31 203.75 Eaistama- iNu"" 21.34 0.00 27.34 11.56 0.00 11.56 20.93 0.00 20.93 11.49 0.00 £1.49 2.24 42.42 44.66 16.02 9.02 25.05 2.40 1.00 9.40 4.00 1.75 1.15 91.91 64.19 £56.16 S&aahaa 4.34 0.00 4.34 £3.34 0.00 18.34 29.6£ 0.00 29.61 24.51 0.00 24.57 22.51 56.15 79.32 34.76 14.11 51.56 9.70 13.40 23.15 9.96 15.96 25.92 155.84 100.92 256.11 finite 43.44 0.00 43.44 29.45 0.00 29.45 60.35 9.00 40.35 62.62 0.00 62.42 48.25 12.14 00.40 14.40 54.34 131.26 31.19 23.10 59.91 0.00 11.50 £1.50 310.29 100.19 47B.93 total 75.22 0.00 75.22 59.50 0.00 59.50 123.03 0.00 123.03 £19.33 0.00 £19.33 111.12 £19.12 20. 24 142.9 95.12 238.10 10.70 59.71 130.46 14.19 41.60 £1.19 716.01 331.61 l,091.61 1 23 EsclaWas all customes dotais. botnus NBCE, The Put imthu'sty ad Maai staff. .r 1-' Ua~~~~~~~~~~~~~-P 10~~~~~~~~~~~~~~~~~~ Sar" ?I~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~' 59 Table 6.5 (a) P;4OECT COtPlETiOtI REPORT 440'1 P0a11: TOWi 'OafS H3OJEC7 -L94 :707-Coo _b 'i . l. il.is aithoot . _ _0 .~~~~~~~~~~~_ ______._ .............____.__ 1460 1qg5 101* 1987; 1968 1069 l49* "5 Ot' A. AIFFIC *90 4 WV0110: I1 1.;So 3..20 4.34* 4,H64 7,100 7.Jt7 6,300 10,wq 1lluo 6. 83tt4i9t PROJECt £uootzq toutl Sert?ts ,.l . : 2 1:.2 2 .2 1. ertti:loOOfIuhre 2 i i 2 2 1 2 2 1 2 Trafitc vQO :to 1.7Ir 3,.2o 4,;9TI 4,894 7,100 7,.07 1.300 lO.vvu !1,7vO ; A..ui ship outft hvm 'Iqoro 444 *25 1.124 1.251 1.615 1,9*2 2,12 2.55* 2,91 4. 40totttl $p WOtO 41p availAble to 640 e40 .40 v40 G40 s4 o4 40 5. hirtb aOccoIUc fate I1? '9 ( 195) 451 :95 M9I :959 95i :951 S. uiltiU tin, 400 fctt"rs 0-.9 4.34 4.34 4.34 4.34 4.34 4.34 4.34 4.34 7. 4.a total hUe eG?t sent &. Acted1 ibis6 Weth dvs 444 WI6 am6 .0 *06 . 6.06 .46 008 *. Ski outs"l 444 173 4.015 4.16 5,429 1.617 6.515 9.209 II.v93 12.41' c. Ship liahturo4l * 0 6e4 L.v32 9.2l,t i.414 2,701 3.2 3.89* 4.1te total *17 5,.257 *.51 7,323 10.6"9 11.631 12.645 15.597 18,D55 C. Vtt_ F_OJICT EzIstirg Coal hrtoos _ .2 1.2 l ,2 1. ortnf biAtiOr1 2 2 2 2 2 2 2 2 2 2. traffic I 0e0 tin.l 1.73.6 3.20 41,396 1,335 1.436 2.94 2,2. 12.77 3,l01 3. Atuml ship t rth 0*4 r0tSulN 444 925 1.124 341 4i5 535 579 .97 61t 4. A hel %*19 bortn ttn availible e40 -40 .40 640 40 40 .40 c40 *O40 5. kmth cmoret fate -1 .9 1951 :95) 53 77 6' 90 :95 95. 0. Uitietl tiM 40i60190ttus e.39 4.34 4.34 0.04 0.26 0.51 0.12 2.00 2'u6 1. _.1 total "to9 ort 0lat a.i toalt l obto thf n 4a44 s U006 8 341 4 535 59 S.T d600 0. ilOo iuite @44 175 4.015 *4.678 14 129 273 5S3 1.450 1i.97 C. abue l:400rnr:q OA" ° *34 1.032 u e V e 178 4t1 totil all 5,257 05l8 355 .24 v04 1,112 'U;t .721 PFneme Cll brths 1, Otrths :nuu.r: 2 : i i 2. ?rvv:c , uoV toflo ,55i 5.1*4 5.MM .o '1.S i 50 3, .au4l imn out. 40vs reouirmo A4l 445 533 S i 64 610 4. 4"nu1 sniorto 0at" Av4ailable z40 m40 o4V .4. c40 40 S. ibrtn oCcnrnc, rate :: 571 c4t iu95, :05: t. l :ltin9 t-i i00t0 factors -J.04 O .. ..51 V.92 1.A 2.us 7. 4n0,al ttth Ohio port dlali a. ;ctcl snip ate 0409 341 4*f 5i5 579 oa eOW I. . hio vating Van4 14 129 273 521 145.u 1,097 c. Ski$ lighterin 19 aV 0 0 u 176 Oh Total 355 *24 60 1,112 2423, 2.721 octalM ) &aUo ship owth din rmtr04 traOctuta*wtical daily caKiot ter forth, fool imuooal solo Othol das avalable * omOh 04 Wths a ilOto wgrato90 ISO$ 6er YwC. lotll AtO occuieulc rate * sil ship arth di" roiworN, oi n1tal into Orth d0v1 avoolabl. liv: .ut00m tin 4tit4 fectwi 4at froe Pert Dntlwamt, KoctA6 476. PWa 209 oas 0. 1v) etshu p 1o .tiftm de" * m el ship Oart rth sired . 1i11al tio. 40ti0iq4 fKtorrs, ,913 l3.lui el.n O o a d ometIC tni1Ceti. i.2i Tr -ac 9.ld _ scm4 the pruaticali ciaacity d0 t0 mi bttris. far tO. orbobe Of t ottcerto C 6oItA 11 It NU tntn aius that mt :lH At 0f0t0. #.Q., t01t40k lobterolo, to 04 the traffic throUgh the ort aitO 61it1g ti000i "ot "Coat" thowi tirnpoioeq to 951 Obrts MUOpc , rat*. nt l: MC, ty e Fart Istheity as bkm staff. -60- Table 6.5 (b) .1~~~~~~~~_ _PjV FT1i" 1 TN u TS P'lECt Lfi tD07-CA, 39kg 1u" btl.s Ftatt Am 4ut4 klo"W bethy -Cstaser | rt/ 1lft 1S5 196 1917 1941 AS 9t0 199 20v(. 8. IWI - _m l cuap I t1w ' 1 1.42 1.9 2,46 2,17 1 .?0 4,041 2,944 2t.4 2.S ctMr I 391 5.C 46.8 52.1 D7.4 Il. L .6 L6.0 215.0 321.v bl, olElh tta w k Eut. laseRt tug 8.9 , - . 2 ,.2 12 ,.2 '.2 _I2 '.2 I. i 5tZ 5 5 - 5 5 5 5 5 2. traffic t1 t7 2.54 3,30 S3,374 4.420 4.99 2.99 4.S24 5,620 3. mula on 0 w e '63 9lJ a .2 1.8 2,.5h 2.455 .4o8 3.84 3.116 3.40 * .sn 4. _Mi ate wtO avaiialift 1.491 1,a 1,441 2.600 1,A 1.48 1.6. 1.93 1.48 L bM Ktoo ID Is 1u u 951 ,n, '95, t"t 1951 '95) 5 M9o o. u" w OM" facto 9.42 2. LY 2.3 2.6 L.5S 2.3 2.3 LS 7. low tslid at wt u, a. Act.1 imp Wu E* 1,121 1.52 1.520 .M26 ON I 1.52 1520 1.52l 9. Wits wtSi Ws m 4.714 9.49 *.9 6.9n *,95 6.039 9.S9 11,614 C. 9ok 1, a Om n 0 5 2.1S1 2,279 3.912 4S U 3.1,2 4,244 9.110 1.tt 6.87 69.44 1O.V7916.44 14.49 16.14 12.711 15.115 19.452 blottlselaser Cup 8rt9. - - - * ~~.1 1.2 * 2 9. t *2 1. 1. 23 1. b*tk.imuu 5 s 5 L trf fic * 9 tall 1.11 I.St 3.29 2.U016,1 4.i41 i.111111 2.499 2.594 :. _6. all "at a tu e emit 1.32 1.1.56 2.4 2LU4 2.17 .lnM 2.329 1.951 2.831 4. imalm U 4 e gm .9*1.41. Sim 1.96 I.431.461 1.489 1.619 1.0 It 1.4o0 1I 00 5. btim u.g,e * it) OS5 9l O 5 15t, in, *n, 95) * 195 a. otut tltw _own fctw .4 2.31 2.5 2.3 2. 2.58 LUN 2.5S 2.2 7. AV/Al telsale wt amn9 o. scud oil Ju, 52 1.321 1 Is5DO 1,52 1.2 1,520 1.SQ 1O, 1.529 9. gs utq" Eu 5S5 4.1ll .46 2,H41 7449 8,202 6.00 5.034 5.29 C. blo lpwisto " Ee LI 2U152 1,43 2.734 3.1 I1 1.111. I O 1tow 1.6 9,944 14.37. 6,849 11.102 13.044 9,147 7.419 1.114 pie's C.etew OutN 1. ktzuz inttl I.Stbe us,;2 I 1 I 2 2 2 2. truffic , .9 TMh 52.1 57.4 6.. 99., 10O.. 215.. 723.v S. La elg tNMlie 4 3 ltb 1Ws 15; 5 33 4* 4. i_tml log Ewt u m nal p M20 320 ;20 320 .Q so *t4 S. Wuth gcluat e its 25 2a 4 42 24 52 77 9. nUtomq tit sit, futww v t 0.11 0.24 0.24 4.02 0.14 0.$& . t titba lte wt Eium a .tts hg tewtlE Om so 3 12i0 l; 1(3 340 ;20 9. .be i tol qu" * 10 31 3S5 4 5 U01 C. hibllp tua w i 0 0 0 v v 20 n50 Told1 4 99 15n 148 lbe 38 I - III e1mag l ose WUew 'erW *o tteEOlcitknorlt1gA duoll Capacity 6 WU0. Its) laW seR33 9349 "a. .a148. *mw 94 huttla buth yuetl.g 4, W "o. (1tw1 mntos ths 9 9 fuctwrw tes * t htwle.tmt, a3 7 t9 l, uap 29 m9 219. lV4 sutl dip Utiq S SW 1148. Wt r66*rd .I 5l r tam t quMia fetur. till1 a1 II r * 't 9 titatug66X_1* rU*11. ila all vu.ct,49 smue watp mOurn N rt 1_t, iXTiU l9, tIe. 1w 200te cu 9319. nlv It tb fop we roo. 0 1 mttA inct. Nit ta crp A "ne tra Uffic om In *"tits kV on nli"t | nlo l ca Wrtio /b9 Taffic * add r od tio pSOsul 15319 of14m 69tt.. Suw ti hr 36364. ttu c tet lutiu It n am m_E tug ev fal 9.8 #39. *.I., tkrtu lipWl", to m tts strafc tk6ot the wt .t11 6t91n til otn "wal ttm wt9r69t1 to C5t Wu_t y rate #v *tu 1 cupare rtis as 59 t tw cutuw wt. 9_3S 31 "let" Wut (2 iram %I " tE to 5931t0 i 19i . Wumm la. at Put 6t49t*31 11iW sta ff. *mm - - & mae mm a Wm o^ -a" UV WA In -a Wme mani at' 'Num, Mewm a' sia m MO~sm - " -MA m Owl pm am asom~ WA, * Em -n an - w- mm smite m a_, -t m _a*tmSI S'm - It. - p w-pm on sin, 0emm mm fsim sm - am min Iti mINS Pmmolwo Em *I mimam ml', w S dWE t in m1ii_. -_em m .me mm-i.S *A" n_ $mI i,ama.Si i mE SW aES em0 mi,O *w -. do, mmmma 11mg IW pmi N.Muu am.~e*W. UWE amOm sm- _ _ _ W n - *me. a- _mm ___ .................e....m........m....m. . m,n., W .m.................. mrs tz.i m: Erlm ame n,m mEI mmm met. mm is~ C. Wmm em.. flnl Sal- .. gr, Er. am'- - m t WE mmtMll #W ' iq mm g. mm mm. a' rEl 51 ma _ Sn_ sim "S on en on .ic Ur sWr i: . ' M*_W . -wis -a WSJ tIPt T i *1 - m *- n ln *It W1nlh ml a. tm mm * * . _S 5.amimm m4-1 tJ'l a'll * 1 *. Om- b~~~~~~~~~E is WE WE v-,_ in -in - z a _ a_ n 0mm "M I h~~~~~~~f. " 11,1, ' nO, _a * @,W *M I'M till 4ls f tl :Ia twn W S. a. a.a It. lU. a. It mwamm WE m. on, . Et t * *r -o t n __- tAm Wm I- *tl 1' I C I; ^ ^ tt §' ft. t nt ; *-nt :*l .mr' m5 mm. inS Il m m_ mins *;m ml. EI t m m WE tiE I i._*S tWi ft '! mm ml C m nC5k. .5} .5 Ell g., 0el tml -I r WEpmmmSWImbbb tVt U! gm tm f.m *m Sm Wm iniU Sean_- a. 4m a. in a. a a. tn WE msa. m-aK *-W 1 11i IpM .m. ms $-Ws~~ -W-,mn m t 'z 'e * -*-t sim" -mm ""pi ltn, b WI) WIm ma.p nmm rmm .w. IIm mb ll so- mm Om WM $i eI I o lmt r Iw m lolO 1iiE ma.n Eri I" mm Wi Wi W. o Wr Em -°- , . Im *1$ 11 *I Pn on rl rW nW art ._o "M -hm E so -M one f.n t-m a lt ml WI m - 0. Di mm 1mm m mm tm tE m GP am. E m, Ne Om * a_u _ W% "I's "I' lt mlS 591 oni ml Wm WIWE_tWII WV ml mEl miem., Em'. MMl O's tm W', WEM W".a. mm_ _dam M bmms 13$W WIN wit l m mm *rl int a '. PWE hP StEIt Zt _ _ um 010 dro DWI Un W'. 281. m S WE W.. atw WI d. l dmf WI EI we ES' as _ wit W, an Mt WI 104 t 1817 4rt _M t to 1 at m, in in om in nm 1 n. 'W * M lM- I El El a. Emw El El El itw t 'n tW S gm t *-m rim gm P m m g gon ama" i a m a. a. GP a I&a a. am El.W E EW m. ma. mis W Em mtmmma mg it?n _E _ _ _mii fi 1~ C~ *I tC *m1 *-Cn nIt mr .__ .'M m m: * 11 'W. rf* t !, tI'a I l Mmm rm *0mm marm, *mm. s,mrmirmc , WE or.m* WEt, m E 7 rt 511 5.'I t"It f.? t ml m1-l I mmm uI-mm m 1 F'. nv WI lb. .5 m Er '11.5 L, som. m I *~~~~~~~~~~~~~~~~~~~~~~~~~~'a rpm I' 'I a n . _t, mm,i mtm m7 m mml mmtl mm .i mmm t , mI ; aw. bw an btin,. nm mm in '*1 *I rm b. 'mm ±e * . . . m anm r-0 ...t t-s oi I ,W I' on -11.1 El El El Em mt m 5m gmt mIm CS'. *- s . misin mt mi ma m_ El. W iOl min Em.,v m El- MS I." gi. WE m mm. W ..m _ mm m__ . .. ._ . . ..._..-..m. .m.................. .... _ ._ _ 41111C. I" _ , lb lb Lb M, *elts wr 2 ox 3t St ll _ _ _ _.. am mawnom m _ .. (z)~~~~~~~~~~~~~~~~~ Sie m-umqe E19- _ 62 - Table 6.5 (d) a:1- 3311 33331 333 i i,_3 .. .. . , .... ........... .............. .._........ ......_ .... .... ..... ..... .... ..... .. . ......... ~~~~~~~~~~~~~.... ......... ... . . . . . ....... ................. ....... ........................ ........... .. .... . ......... _3. *~ - 799. 3.3 2.13 *.31 3.2' *.'1 i.a. 2.;23 7.934 2.3 -i93.33 K 393, '1 .&a -.* @.4 . :3. .1.1 MiI iL. *. ,~ ~ ~ ~ ~~~~~~~~~~p3 119 2.7 2 3. We a. 3333 a. 'a.'3 ;.&M 9917 A1 .I" 4.3 9 . . 1.10 .. a." _ a ...... li, . .: 3. .1 , 1 1.19 W" Ana"1333'3 . A 93 9 3 33 N 3 3 3 A. MI." I'V` "a .21 4.33 3..3 l.13 L.3 392 3.3 .9 9 . "i'33 3343 I99 :. ' 193414w ,$, 1._._ . . A* N.= *.739 2.3 .13 *a . .. 3.3 333 37'- 31 * . -_ ANA i .;_e *1 .-|41 X .11| -.62 *. M *.i" *.ii *i &q,-^n.Wa tt al Am to :; n, i .tp " _lft O.3 .3 * .3 .2 . . Zi,, _O. V1- a. 4.h 01V. IJL ,ill 'ILI IJ X. i s Al.s.e b.W1 . _* i_ -, . *a _ lb in 2.hm333333339a, iL 1. AVAN9,P,:t..49 oh. I.W 3339 . as 2 33 VA3 31 .9 La3 61 *.4t .. We A. .NN f- t. 3 33. t o . . 12. Ia l. L" j '3I33931333L Us3 3 93 11 3 101 4 ,. 9 "3 . WI . i Il Il I L .h99WI91 3 314 949 311 LaI. 33. 499. 2 .33 .. Id. _A tl - -"f _ A 4011 all_ ii -.611 * laJ W. . .._ a. 3,3.." *u 331 4 IU 2. 1.10 ::M uAd 1. 3339 a.| _ 3.3 393 li 7.3 .43 3.3 3 l.a. l 3 I*w a i ll I3 I. t 3.11. 1. 9 7.3 3.l 3.33 ap _ ..1 I 31 3 3 733913 .J 33.111 iW . 1 .13l * .331133991 3.3 .3314 * .IU 1.IU SI. 1_ 3 a.I . 3. 1 UN11 11 1 4. :A 1. -.* I_ 3 e3339. = .3333* 9.3 ..I 4 -A 3. A .3 9419 M3 1.33 3.411 ..40 L33U.i.33_3. a 393 *. * 133 ,, 3939 , *i 93 L.33 9 33 .3 a 94 9.'M a 4.3 14 n. O.9 LU L 3 WV93 a #9333 LII LIS3 Lo3 1.3 1.3 4.3 9.31 1.3 co I 39 -. a04. Lk 3.33 UN 3.3 Ca3 Also U11 2.33 Lon9 3~~~~~~~~ _93313 _ 9_ _ _ . a. _3 3 3 sk NAUR i m wil_t 4 73u. l34 WI a. 2.3 I' 1, .31 1 .a."I 9.1 51 9.33 I'll I'm '3 .. ' '. L.37393933333 33H1.3 IL; 3.,, 33.9 4.4 3.3 3._ L 133.3 I 1. . _ i 3 lb i O, 1 314 3. 9393 333343199 .33 ,.1 a3 93J 9.49 13 9.o 9.9 i _ `i 1 as _i - - ' at-, "M gm , , U L 4 3 3 IV 33 49 33 3d 9. d. a. 31 9 9 3 3 1 3 l.m33,99933a. 311 9 9~~~~~~~1 91 "I I 3 * ~~~~~~~~~~~~~~~~~~~~b aUt _ni l .iD ,1 t-Li , * Was. ft * 3 Al 3 no .3 11. .1 *.1. ., 2. _3 a.34 a. 9393 33s .119 399 .9 # 3 21 D D We a. 334 a.l 39.1 3 Il .3 lb 11 4 1 a. 3n , 33339 a,3 3 .3 9.1 3. 3 1. 3.9 4.3 .49 .. *.it_u1k, X X ) g 4 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ZHAf%I SHI C H I N A N. 1 K JAPAN RAILROADS, a por 'E ToI I '' ;n n / PORTS AND AIRPORTS Ola be *a GJ4I Zoo "v' n R.iI-edXt bil, bf(fl1949 pROPOSED OUNDEJrROeEOF blNI 4 ,J/ ,4,' !, R idS Regi-l Bueou hedq Sl RAILROADS ah.taN e*i.N shyhensge @ ~~~~~~~~~~~~PrvncROPiOSE jOONNEN EXSIGLNE ELECIRIFICATION: 22\_+ GKN.U .---- To hie) TW HONG KON G. UsM soy e~~~~~~~~oeni so en. 0~~~~~~~~~~~~~~~~~a, slainso y l - -`l H fHILIPPINES CH INA/-' << - P | MARCH 191 CHINA A THE THREE PORTS PROJECT HUANGPU COAL TERMINAL _- ncI*ing well No.2 TERMINAL, BERTH No.9 and No.10 ...--. . for tvroiIIiOR C-O. : - v- EXISTING:_ ie - EStructures -- _ PROJECT: E[2Str.ctures ~ LTl oWm, owo Railroad |tlo_m. Roadways _o! 2 o4 1 Conveyors r CoPVD ICro! r-5-1 Light lowers |M TO*-ON _ 'owo 1./ Slope protection , r Undzrmrtbr excava/tion slope Tnsr _ i TRailrod \aE..w1on, ols Mr 00000 ale di1h RESERVED FOR FUTURE DEVELOPMENT Tell o 2o 40 60 so 1oC0~.....oIoaO. METERS -f .,ig w -~~~~~~~~~~~~l WoitS I eoeh.i room X TACK D__X,_ ;sr _ F At , d T 1 D,opoloh,ns - |COAL STACK I r f S_W' RW~~~~~~~~~~~k0_Rljw , N,, - -!nsO Rllcr 'D*I iOOL@S L .,L TS1 Tohighimy.oil^ar~ ~ ~ ~ ~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~COoo ro. 8.g5-1Y' I fi row, 111 SlwRoOwMm,COAL STACK J ~ ~ ~ ~ ~ ~ ~ ~ ~~~~~JC0Co1o0RI 010r COAL STACKC151103~,Ot.05AO 1 -J COAL STACK 5IECROCr,o 11V1 v _ - - F i l i~______ ..ooo =rok - row,i (-El TrirmlDrD-\Noroa 4oe roAr1CorlN l.. C- ),lmlooroDr lo; 63 - r~~~~~~~~~on ofi II,dosr L\ 1yz[ V trhs SOT ''S '- HN C_ i>_"r .' \ \ b ~~~~~ -. / o.9 f~~~~~~~~~~~~~~~~~~~~~~~~~~~~~o. nm otol aon, .00110140 014 5 _ __ 0; . i - _ _-; - *01f - H U J / zi /d Cr ' ' ' '' ' / A ., e / i or < . g r"|.I,y,",. I100t/h,b.It ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~~MAC 15 ______33;:__________________ DIRD 1568 re * ~~~~~~~~~~~~~~~~~~~~~~~PROJECT EXIStING\.- CHINA NM Structur4 THE THREE PORTS PROJECT Un rrureI ContEainer yards HUANGPU CONTAINER TERMINAL ' Raiload EANSPCAEE No 2 TERMINAL, BERTH NO 7 AND NO 8 Roads E M W Roadways CONTAINR CHECK \ CH IN A Rubber tyred g9ntry REPAIR YARD crane ond EracKs O Sp 100 10. Fences METERS N Light towers OUTSIDE PORT PUBLIC ROAD -' pIIUIb'S GATE FUELING COnt-Ifl T--l r ad STATION wit | | 1 WAITING ROOM Chgfflt,s PrUl,g /E , O rFICE TRUCE ORESERVED PARKING POE !' /POST FUTURE USE - _ < Q j USE l, Ht~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~GHWAY CF.S RAILWAY C.F.S. I | WEIGHING SCALE CONTAINER LOADING - RAYS R.d . +',, Cu- - TRANS FO MER i 5 z _ 5~~~~~~~~~~~~~~~~~~~~~~~~~~'\ STATION'\ 00X | STA REEFER CONTAINER STORAGE I~. ...j TRANSFORMER _ STATION .I[ ' - Colie's tway ,4SHIPLOADER TRACKS BERTH NO. o ______________________________________________________________i___;______________________________ B E BERTHTHO.NCBERTHH NO.5 < T z ~~~~~~- - ' '-. - -= A= ---~= '~I-____ n ap 11505.5 0++S to. Ea 0++10 otew no ,rw _at ao kdwlaM _ Roner Caolenq Tb. d0+5tmw +140 ra bal to . /rh a l ma Cb rol . ,,ona+o.o P.RBsM5.*toa. floKe91JreE i0+cvin.rv rSTEEL BERTH WATER DEPTH 11 M. CONTAINER BERTHS WATER DEPTH 12 M. a 1g, ala ,Iar, loty by .ton;o,wr bc.plra e o 00440+15kZhv liangp (Pearl ki,er] MARCH 1989 IORD 15815R _ HPu 0 ngr, f, Ong IR5S, D"'A Cweloew Slep. BERTH NO I BERTH NO. 2 Apro^ Coneen Osay Cean A pro THE THREE PORTS PROJECT Elpe Coe..inYod YEoeaEnpf,C-t-g,od Fl.od Ml - 5 SHANGHAI CONTAINER TERMINAL '-iN..IyC-tnorud Wa dCon eWn. f DISTRICT NO. 9, BERTHS NO.1 AND NO.2 f E)- - I ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~PROJECT EXISTING CW" 8 F 0 Structures Contciner yards Railroads -~~~ D ~~~~Roadways FrralltWortirgA-ea RuCore Ceaseesbber Tyrd,gantry Fences LighT towers Reefer C---s,e. StckUng Ar.. '-P \ SplFTtConton.r Led.nn Roes B.,.1 C/ra TM t- s- P.P.rncoboreMR Pepl0 fross Be Al/o T-arelo r7X rrwp t tzn prro tr . . PrzrLqno ... F=elmg Slarion QEDO g dE Sor, r~~~~~~~~~~Meereraco Sora ewe. s.ed-we. o. _ eeedm .~~. .eaowWeghBr.ewa- eebn. a.. ole IWOdR,e r4 _ *rb ' ~~~~~~~~~~~~~~High-,r C F s ed of Th.,Wowea v ft .Pr sb.. -t ftr A.U M 1cc. hd ror.ftboeeeo.e wee.,ngS p.c/ a. etl. l r c Eoe. . 0 - o 2 eesteee.5e- Foe- Owvw.Reo / d~wae nrror nr Te. Jt .q twJoe we , a cd et RO. op .. Le>0OOoa,Ut'_Of0100 KOHO 200 sslzr jU= contilirelChr-Ur4rre MIIETERS MARCH 1989 . SI . . . . . . . . . . | IIS v X . Ill '~~~i ow, I CC l IBRD 1M131 CHI NA ^ - @ t T ) ,3\$ ~~~~~~~~~~~~~~~~~~~THE THREE POTS PROJECT BERTHS NO. 27, 2t, 29 PLANNED PROJECT EXISTING -~~~ L . - I~~~~~~JL] ~I- Q Structures ~fl~1O5 PWROOOriOO R.O ~ _0 = _ EZ] t.-- 1hZ - Contaioer yards (S.. Hfo oom on,Aooo500 n F otioo ht rd 000 y.--d-Railroads ..W9@& Co z ..Eoor McIM&oon , -& Roadways 1zkh Li r 1 tght tower's j,~~~~ ~ r -i .~ .v . r 1rJI IL noc~ :_ 1diurnnCn rso FriiX -~~~~~~b Go/hX \\ jr __..__. .I M h \\ - *,ROoIiii N r0005D_kub d - o lm__ _L . i ]W\\............. ... W- , -- i; e. 4~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~rl omor roO - i ZY r o l rc__ns dadd dSno 1lw d_ , ,YA R, , ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~oh I . oi rOraO roomi O - G ~Z i O lhtA7ZhCH IZ CONTAINER WHARF * NoToOOIOoROoI - BAINEN.S3TmWN ..thI' - 6ooodory rorA- IN I ~~~~~~~~~C HJNA~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~8 A 0 100 200~~~~~~~~~~~~~~~~~~~~~0IX2 0 00 METERS -300~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ELOOTE toot 00w.orCiorwsoro Or.o...o. anOaoO F. bOoirA.aR.OoOR on OW SOil irrOl ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ HS4KAW S - hET DA. o . ar0 O. R r t 0, * o o t F i ii ir O e s no 50~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~AC