Orient International to expand shipping business

Shanghai: Shanghai-listed multi-sector enterprise Orient International, is planning to expand its bulk shipping business through subsidiary Shanghai Newseas Navigation.

The company announced plans to use about RMB1bn in raised funds to expand the bulker fleet of Shanghai Newseas Navigation over the next three to five years with plans to acquire seven second-hand bulkers.

Shanghai Newseas Navigation currently owns three bulkers. [31/07/14]
 

 

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