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Antong Holding expands in container shipping with Guangxi Changrong acquisition

Fujian-based container logistics service provider Antong Holding plans to purchase 100% equity of Guangxi Changrong Shipping Company.

The deal priced at RMB405m ($58.7m) will see Antong expand its container shipping business.

Guangxi Changrong is a leading container shipping company in Guangxi province, which currently owns 13 container carriers, multi-purpose vessels and other types of vessels mainly for container cargo transportation covering domestic coastal regions, Yangtze River and Pearl River.

A private company Antong Holding is engaged in container multi-model transportation. The company owns two subsidiaries of Quanzhou Antong Logistics and Quanzhou Ansheng Shipping twhich provide full container transportation solutions.

As the end of 2017, the company managed and operated 101 ships, totaling in 110,900 teu, including 40 owned vessels and 61 ships chartered in.