Chery Automobile has taken over a second shipyard as it rapidly builds up its own fleet of car carriers.
Chery, a state-owned automobile manufacturer, already owns Wuhu Shipyard in Anhui province where it is headquartered. It has now added Samjin Shipbuilding, a struggling yard in Weihai in northeastern Shandong province, to its portfolio.
Both yards will focus on car carriers as well as panamax bulk carriers.
Chery is one of a host of Chinese automotive brands deciding to invest in ships to handle the nation’s fast growing volume of exports.
