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Antong administrator signs restructuring deal with China Merchants and AVIC Trust

The administrators of Chinese domestic container shipping major Antong Holdings has officially signed with Fujian Zhaohang Logistics Management to conduct a restructuring.

Fujian Zhaohang Logistics Management was jointly established by China Merchants Port Holdings (CMPH) and AVIC Trust last month before submitting an application to join the restructuring of Antong.

Antong entered into court-led restructuring in March at the request of AVIC Trust, a major creditor of the company.

Fujian Zhaohang is looking to inject new capital into Antong, with the aim to resume and improve operations of the company.

Antong Holdings, founded by the Guo brothers, currently operates a fleet of 116 ships with a total capacity of around 160,000 teu making it China’s second largest domestic container operator behind Zhonggu Logistics.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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