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China Merchants merges Yangtze river shipping assets

China Merchants Comapny representatives give a thumbs up on stage at the Yagntze initiative signing
China Merchants Group is integrating shipping resources along the Yangtze river to promote the development of the Yangtze river economic belt.

“We will consolidate the resources of China Yangzte Shipping Group and Sinotrans, and establish a specialized logistics service platform for Yangtze river shipping, which involves nearly RMB10bn ($1.4bn) assets and 6,000 staff,” said Miao Jianmin, chairman of China Merchants Group.

Upon the completion of the resource integration, China Merchants will have a fleet of over 500 bulk carriers and containerships deployed on the Yangtze river. Annual dry and bulk cargo volume will exceed 130 million tons and container volumes will be more than 1.3m teus, making the group the largest public feeder service provider along Yangtze river. 

The integration will greatly improve operation efficiency and reduce logistics costs, which is going to bring far-reaching influences to optimize transportation structure and communication system, according to China Merchants.