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.