Shanghai Zhenhua Port Machinery Co Ltd, the world's biggest manufacturer of quayside cranes, announced that it has won an order from Spain-based Arborec Desarrollos Sociedad Anonima worth CNY 2 billion.

According to Shanghai Zhenhua's filing with the Shanghai Stock Exchange, the company will supply a multi function vessel with a 4000T crane to the Spanish company.

Pursuant to the supply contract, the Shanghai-based manufacturer of cranes and large steel structures will ship the multi function vessel on December 31st 2009.

Zhenhua, which accounts for 78% of the world's quayside crane market, expects selling prices of cranes to grow 20% to 30% next year to offset increasing production costs and the negative impact from appreciation of CNY.