Greater China

Fujian integrates shipping assets

Guangzhou: The three major shipping industry players in Fujian province, Fujian Shipping, Xiamen Shipping and Fujian Orient Shipping have set up Fujian Shipping Group to strengthen the overall competitiveness of the local shipping industry.

The new company also integrated shipping assets of over 40 small and middle-sized shipping companies, including several Hong Kong and Taiwan-based companies. The total assets are now valued at RMB5bn.

Fujian Shipping Group will be engaged in bulk and container sea transport, passenger transport, crew training and other related businesses.

Currently the group has a combined fleet of 45 ships including some that are under construction. The total fleet capacity is around 1.39m dwt.

Yang Jinchang, the former deputy general manager of Xiamen Shipping and the former general manager of Fujian Shipping will be the boss of the new group.

The development is in line with Beijing’s repeated orders to consolidate the nation’s shipping and shipbuilding sectors.  [20/11/14]

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