A SUBSIDIARY of Ningbo-Zhoushan Port, Ningbo Ocean Shipping, is to acquire Zhejiang Haigang Shipping for CNY400.96 million (US$61.43 million) to reduce competition and integrate resources.
Zhejiang Haigang Shipping, which was sent up in 2019, is planning to develop a fleet focusing on sea-river combined transportation system, featuring the advantages of large loading capacity, low fuel consumption, safety and efficiency.
Ningbo Ocean Shipping is currently planning for spin-off listing for Zhejiang Haigang Shipping, reports Seatrade Maritime News, Colchester, UK.
The company will purchase a 100 per cent stake equity of Zhejiang Haigang Shipping from Zhejiang Seaport Group, an indirect shareholder of Ningbo-Zhoushan port company, to better integrate internal shipping-related resources and improve service capacity along Yangtze river, according to Ningbo-Zhoushan Port.
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