Antong Holdings, the parent group of Chinese domestic container shipping major Ansheng Shipping and logistics service provider Antong Logistics, has entered into an agreement with three state-run entities Quanzhou Financial Holding Group, Quanzhou Transportation Group and Quanzhou Fengze Investment Group to form a strategic alliance to development a logistics business.
Under the agreement, the three state-run groups will provide funds of RMB2bn ($297m) to develop businesses including container logistics, supply chain management, logistics parks, logistics digitalisation and port operations using Antong Holdings’ operation platform.
Hailing from Quanzhou in Fujian province, Guo Dongsheng and his brother Guo Dongze started Ansheng Shipping in 2002 and Antong Logistics in 2005, and now Antong Holdings is a leading domestic intermodal container logistics service provider in China. According to Alphaliner rankings, Antong Holdings is now the 15th largest container shipping operator in the world controlling container capacity of 148,264 teu.
Last November, the company raised $473m for the development of two intermodal logistics bases in Tangshan and Quanzhou and the acquisition of twelve 644 teu feeder boxships.