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Milkyway moves into chemical tanker shipping

Photo: AdobeStock tanker at sea
Milkyway Chemical Supply Chain has acquired an 80% equity stake in Zhoushan Zhonggu Shipping formally entering into the bulk liquid chemicals shipping market.

The move sees Milkyway expanding its supply chain and forwarding capabilities to include chemical tanker shipping.

“With large domestic crackers and downstream projects successively going into production, the volume of liquid chemicals coastal shipping transportation is increasing. Meanwhile, the international market is also growing with huge potential due to the fluctuation of chemical production capacity in Europe and America. In view of the customer focus and agile response to the market demand, Milkyway had made the deal to acquire Zhoushan Zhonggu Shipping asset and formally entered the bulk liquid chemicals shipping market,” said Milkway. 

Zhoushan Zhonggu Shipping operates four 4,000 dwt stainless steel chemical parcel tankers, which has been providing domestic coastal shipping services for many chemical enterprises, and 80% income is from COA contracts. 

While continuously developing the domestic warehouse-distribution integration and the international transporation business, Milkyway starts the shipping business for commodities and chemicals, and enhances the service capacity of the one-stop supply chain from the raw material to the finished product. In the future, Milkyway plans to expand  shipping transport capacity, by investing in new ships, leasing, serving Southeast and Northeast Asia.

Jeff Wang, Vice President of the group, said that Milkyway Shipping, focusing on Asia and forwarding worldwide, will rapidly expand our tankers fleet, build our talent team and serve our customers.