China Merchants chairman confident shipping is on upward trend

China Merchants chairman confident shipping is on upward trend

Zhao Huxiang, chairman of China Merchants Group, reckons that the overall shipping market is on an up trend.

Zhao told Splash at the Asian Logistics and Maritime Conference that the group is now satisfied with the current fleet mix and is confident that the group will see new investment opportunities from China’s ‘One Belt One Road’ initiative.

Zhao said one of the major problems in the shipping market is imbalanced demand between Asia and Europe with eastbound cargo demand much less than the westbound demand.

“I’m very optimistic about the current shipping market, especially with the implementation of the ‘One Belt One Road’ initiative, which will definitely bring a new round of investment opportunities for us and the ones involved,” Zhao said.

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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