Splash 247

Titan Petrochemicals establishes new ship repair unit

Titan Petrochemicals establishes new ship repair unit

Array
(
    [0] => WP_Term Object
        (
            [term_id] => 77
            [name] => Greater China
            [slug] => greater-china
            [term_group] => 0
            [term_taxonomy_id] => 77
            [taxonomy] => category
            [description] => Stay updated on what's going on in the Greater China by browsing the Greater China region news archive. Find the latest maritime and shipping news on Splash 24/7.

Get the updated list of the latest news about the Greater China region. Browse Splash 24/7 for more maritime and shipping news.

            [parent] => 55
            [count] => 5320
            [filter] => raw
            [cat_ID] => 77
            [category_count] => 5320
            [category_description] => Stay updated on what's going on in the Greater China by browsing the Greater China region news archive. Find the latest maritime and shipping news on Splash 24/7.

Get the updated list of the latest news about the Greater China region. Browse Splash 24/7 for more maritime and shipping news.

            [cat_name] => Greater China
            [category_nicename] => greater-china
            [category_parent] => 55
        )

    [1] => WP_Term Object
        (
            [term_id] => 63
            [name] => Shipyards
            [slug] => shipyards
            [term_group] => 0
            [term_taxonomy_id] => 63
            [taxonomy] => category
            [description] => This is the Splash 24/7 news archive related to the shipyards sector coming from all over the world. News are sorted by release date, from the latest to the oldest.

Read the latest news about shipyards.  Browse Splash 24/7 for more maritime and shipping news.

            [parent] => 54
            [count] => 1385
            [filter] => raw
            [cat_ID] => 63
            [category_count] => 1385
            [category_description] => This is the Splash 24/7 news archive related to the shipyards sector coming from all over the world. News are sorted by release date, from the latest to the oldest.

Read the latest news about shipyards.  Browse Splash 24/7 for more maritime and shipping news.

            [cat_name] => Shipyards
            [category_nicename] => shipyards
            [category_parent] => 54
        )

)

Petroleum shipping and logistics company Titan Petrochemicals has established a new unit, Sinozing Drydock, in Shanghai to expand its ship and offshore repair business.

Sinozing Drydock will integrate all of the shipyard assets of Titan Petrochemicals, including Titan Quanzhou Shipyard, and mainly engage in ship repair and conversion, shipbuilding and offshore equipment construction and repair.

In January, Titan Petrochemicals reached an agreement to acquire a 46% stake in Sino Genius Group, which indirectly owns 94.74% equity interest in Zhoushan Yatai Shipbuilding Engineering, for RMB100m ($14.17m) and the company believed that the acquisition will increase dock capacity of the group for its shipbuilding and repair business.

Titan Petrochemicals said it will continue to explore opportunities for further expansion and it intends to increase its efforts in the ship repair business through more acquisitions.

Share this article

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

Related Posts