Brief

In Search of Investment, Ashdod Port Courts Taiwanese Shipping Company Yang Ming

A delegation of Yang Ming executives visited the port on Monday. Ashdod is Israel’s largest seaport by volume of cargo

In search of investment, the Ashdod Port Company Ltd. is courting Taiwanese shipping company Yang Ming Marine Transport Corp, according to people familiar with the matter who spoke to Calcalist on condition of anonymity.

 

On Monday, The port company announced that a delegation of Yang Ming executives visited the central Israel port, Israel’s largest seaport by volume of cargo. Yang Ming’s senior vice president and chief logistics officer Gerry Liu and Hayden Chang, the company’s head of Middle East operations were among the company executives visiting.

 

The port said that the purpose of the visit was to discuss the possibility of expanding Yang Ming’s activity at the port. Yang Ming representatives were presented with a plan that would see the port see a $163 million investment, the people familiar with the matter said.

 

Yang Ming has been approached for comment but has yet to reply.

 

Ashdod port. Photo: Orel Cohen