Shanghai: Hong Union Shipping, an affiliate shipping company of Ningbo Hong Yuan Marine, is shifting its business focus to the Middle East market this year.
“With the general shipping market remaining sluggish, we have to shift our focus to markets with relatively high profit margins like the Middle East, however, there are lots of competition in the market, we have to make efforts to deal with that too,” an official from the company told SinoShip News at the annual Breakbulk China event in Shanghai.
Hong Union Shipping currently operates a fleet of 20 vessels including general cargo vessels, multipurpose vessels and single deck bulk carriers. The total capacity of the fleet is more than 800,000dwt. [12/03/14]