Shandong Shipping sets up jv for fleet expansion

Chinese state-owned Shandong Shipping Corporation has announced it is setting up a joint venture with ICIL Maritime Leasing (International) Company Limited (a wholly owned subsidiary of ICBC Leasing) through its subsidiary Shandong Shipping (Hong Kong).

The new jv, tentatively named as Hai Kuo Shipping 1916B Limited, is to be registered in Marshall Islands, and aims to expand the fleet size and revenues of Shandong Shipping.

Shandong Shipping said the newly established Hai Kuo Shipping 1916B will bring positive impacts to the company’s fleet structure upgrading and financial results, the investment is in line with the company’s long-term development strategy.

newsletter

Shandong Shipping currently operates the third largest bulk carrier fleet and the largest LPG tanker fleet in China.

Posted 14 February 2019

© Copyright 2019 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

Katherine Si

China Correspondent

Read more stories like this...

Sign up to the Seatrade Maritime Newsletter and get stories like this delivered to your inbox.

Subscribe Now >

ShipTech Storybox

Seatrade ShipTech Middle East

23 – 24 September 2019 | Madinat Jumeirah, Dubai

The knowledge hub of technological advancements for the shipping sector. Learn, discover and experience new technologies and optimise operational efficiencies.

View 2019 programme >