Tianjin-based Zhonghai Huarun Shipping has signed a stragetic agreement with Guodian Shipping to cooperate in coal shipping in the domestic market.
Zhonghai Huaran Shipping is controlled by China Shipping Development and mainly transports coal for the power plants of China Resources Power Company. Huadian Shipping is the shipping arm of state-run power giant Huadian Group.
The two companies will share their shipping capacity and optimize shipping routes together to lower operating cost and shipping efficiency.
Zhonghai Huarun Shipping said the cooperation was made by the two companies to deal with the doldrums in the bulk shipping market.
Zhonghai Huaran Shipping runs a fleet of eleven bulkers and Guodian Shipping operates a fleet of nine bulkers