Greater China

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 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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