It has teamed up with the port authority in Qingdao, which is taking a 70% stake in its 55,000-ton operation at the terminal.

Eimskip is retaining 30%. It has been running the storage facility since 2007.

The company said: "Involvement of the Qingdao port authorities is an important factor in strengthening the operation of the cold storage since various changes are planned in the port’s environment that the operation will benefit from in the near future."