ContainersGreater China

Antong Holdings emerges from restructuring

Chinese domestic container shipping operator Antong Holdings has successfully completed a financial restructuring with its new owner.

The company entered into court-led restructuring in March and its administrators signed with Fujian Zhaohang Logistics Management, a joint venture between China Merchants Port Holdings (CMPH) and AVIC Trust, to conduct a restructuring in October.

Last month, Antong Holdings received restructuring funds of RMB4.527bn ($688m) from investors.

The company will now be led by Zheng Shaoping, vice general manager of China Merchants Port Holdings, after the Guo brothers stepped down.

Antong Holdings currently operates a fleet of 68 ships, of which 46 are self-owned.

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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