Shanghai: Nanshan Group, a multi-sector enterprise based in Shandong, is planning to enter the shipowning sector to support the coal shipping demand of its electric power unit.
Diao Gang, deputy general manager of FDR Financial Leasing, a unit of the Nanshan Group said at Asia Shipping Fortune Forum in Shanghai today that the group is planning to take advantage of low second-hand vessel prices and acquire around ten second-hand bulkers including pananmaxes, supramaxes and handysizes. The vessels will be used for transporting coal for the group’s power plants.
Nanshan Group is involved in various businesses including aluminum products, energy, textiles, tourism, education and real estate. It controls Shanghai-listed company Nanshan Aluminum.