Hong Kong-listed Tianjin Port Development Holdings has continued its port operations as normal following last night’s massive explosions in Tianjin Port International Logistics Centre in the Binhai New Area of Tianjin.
Tianjin Port Holdings said that an inquiry determined that Tianjin Dongjiang Port Rui Hai International Logistics, the owner of the warehouse where the explosions reportedly started, is not a subsidiary or an associated company of Tianjin Port Holdings or its subsidiaries.
Tianjin Port Holdings is in the process of assessing the loss caused to the company by the explosions and the subsequent fires.
Based on the preliminary assessment, the company anticipates that the accident will not cause any material loss to the company or its subsidiaries.
Last night’s explosions killed at least 50 people, 12 of whom were firefighters. Around 701 people have been injured by the blasts and hospitalized, 71 of them in critical condition.