Shandong Shipping acquires major stake in cold chain logistics firm

Shandong Shipping acquires major stake in cold chain logistics firm

Chinese state-run shipping company Shandong Shipping has announced a plan to acquire a 70% stake in Shandong Aitong Haifeng International Logistics.

Shandong Shipping will acquire 65% shares of the company from Japanese logistics company Itochu Logistics and the other 5% from Japanese warehousing company Yamate Reizo.

Shandong Aitong Haifeng is a cold chain logistics company, jointly invested by Itochu Logistics, Yamate Reizo and Chinese containership operator SITC.

Following the completion of the transaction, Shandong Aitong Haifeng will become a joint venture between Shandong Shipping and SITC.

Shandong Shipping currently operates a fleet of 28 vessels, comprising of 12 bulkers, 7 oil tankers and 9 LPG vessels.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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