Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

SYMS offloads box ships to Grand China

Tianjin: Shandong Yantai Marine Shipping Co (SYMS), the struggling north Chinese operator, will sell five box ships to fast emerging Grand China Logistics. This is instead of the earlier mooted plan for Grand China to buy out debt laden SYMS. Grand China, part of the Hainan Airlines group, is buying up regional shipping firms fast in order to be a major China player within the next four years. It bought Tianjin Marine Shipping at the start of this year. SYMS now has debts of over 800m RMB. 

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish