CMES forms roro joint venture with Guangzhou Automobile

CMES forms roro joint venture with Guangzhou Automobile

China Merchants Energy Shipping (CMES) has announced plans for its subsidiary CSC RoRo Logistics to form a joint venture with Guangzhou Automobile (GAC)

CSC RoRo Logistics and GAC will invest RMB1.263bn ($183m) in total, and own 70% and 30% shares respectively in the jv.

Earlier this month, CSC RoRo Logistics placed an order at China Merchants Heavy Industry (Jiangsu) for the construction of two 3,800 ceu car carriers.

CMES will fund the construction of the two vessels with the proceeds from a new share offering scheme.

CSC RoRo Logistics currently owns a fleet of 10 car carriers.

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.

Related Posts