Shanghai: China Shipping Container Lines (CSCL) announced that it will replenish $6m capital into its subsidiary Xinhai Shipping while another shareholder CSCL (Southeast Asia) will replenish $40m to support the development of the company.
Meanwhile, CSCL (Hong Kong) will borrow $300m from parent China Shipping Group and $130m from ANZ bank’s Hong Kong branch. CSCL will provide guarantees for the deals.
CSCL also announced that it will establish a joint venture Shenzhen Yihaitong Global Supply Chain Management Co with China Shipping Network Technology Co. The two companies will each invest RMB10m to occupy 50% of the jv’s equity.
The jv will provide supply chain information solutions for ocean, land and air shipping. [21/07/14]