Chinese state-run shipping group Guangdong Province Navigation Group (GNG) has signed share transfer agreements with the shareholders of Guangdong Shuangtai Transportation for the acquisition of up to 90.6% equity shares in the company.
Shuangtai Transportation mainly operates passenger and cargo roro ships between Hai’an in Guangdong and Haikou in Hainan with a fleet of 12 ships.
GNG believes the acquisition is a milestone for the company’s ongoing efforts to integrate shipping resources in the north of Qiongzhou Strait.
GNG is the largest shipping group in Guangdong, operating in the businesses of shipping and logistics, port terminal and shipbuilding.
