Maersk and Guangdong Yudean set up China tug joint venture

Maersk and Guangdong Yudean set up China tug joint venture

Guangdong Yudean Shipping, the shipping unit of state run power company Guangdong Yudean Group, has announced that it has signed a framework agreement with Maersk Group to jointly operate a tug business in Guangdong.

Few details were given, however Guangdong Yudean said the agreement will help integrate its tugboat assets and further expand its business.

Guangdong Yudean Shipping currently operates five tugboats along with its fleet of 20 bulkers with a total capacity of around 1.4m dwt.

The move follows Maersk’s towage and salvage unit Svitzer establishing a joint venture with Qingdao Port in June to operate and manage a port tug business.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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