China’s Antong buys out compatriot river specialist

China’s Antong buys out compatriot river specialist

One of the world’s fastest growing containerlines has made its next predatory move. Antong Holdings has set aside $59m to buy out compatriot Changrong Shipping, a Chinese river specialist whose fleet today totals 13 ships made up of small container ships and multipurpose ships.

Antong Holdings is the parent group of Chinese domestic container shipping major Ansheng Shipping and logistics service provider Antong Logistics. Antong now controls the world’s 14th largest liner in the world with around 140,000 slots.

Hailing from Quanzhou in Fujian province, Guo Dongsheng and his brother Guo Dongze started Ansheng Shipping in 2002 and Antong Logistics in 2005, and integrated the two firms into Renjian Group, which was named after their father.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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