Courage Marine closes operations in Taiwan and Shanghai

Courage Marine closes operations in Taiwan and Shanghai

Hong Kong-listed Courage Marine has announced that it has disposed of its entire interest in two subsidiaries, Courage Maritime Technical Service and Courage-New Amego Shipping, to independent buyer Liu Lai-Chuan. The company has decided to outsource the services originally provided by them to the group.

Courage Marine will also close its operations in Taiwan and the representative office in Shanghai following the asset disposals. After the closure of the offices, the company will centralise its operations in Hong Kong.

Courage said the decision is in line with the board’s intention to restructure and streamline the operations and business of the group to reduce the group’s operating costs and expenses considerably.

In October Hsu Chih-Chien and Wu Chao-Huan sold their 27.47% equity share of Courage Marine to Success United Development, controlled by Suen Cho Hung, and then left the company.

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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