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GL - China Ship Fund sign strategic cooperation agreement

GL - China Ship Fund sign strategic cooperation agreement

Hamburg: Classification Society Germanischer Lloyd signed a strategic cooperation agreement at SMM this morning to provide complete support and solutions in all stages of the ship engineering, design and building to the China Ship Fund. The contract, signed by Xu Hui, chairman of Chinese logistics group Tianjin Centrans and Hermann J. Klein, GL exec board member, will focus on analyses with regard to ship efficiency, low emissions and low fuel consumption for tankers and bulk carriers.

The "China Ship Fund", jointly initiated by Centrans and the government of the city of Tianjin aims at structuring and executing investments such as financing bulk carriers, tankers and containerships as well as special purpose vessels like converted refinery platforms. The China Ship Fund was one of the four funds newly approved by the China National Economic and Reform Committee with a capital base of $3bn. The investment, which is also supported by the Chinese government, is slated for expansion through the inclusion of private investors. (24/09/08)

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