Shanghai Bestway in asset sell-off

Shanghai Bestway in asset sell-off

Shanghai Bestway Marine Engineering Design is going to streamline its business through asset disposals.

The company has announced that it plans to dispose of its loss-making yacht business in order to lower the company’s financial burden, which it is also selling a 19% equity stake in Dalian Yuchai Energy, a company mainly focused on LNG-powered vessels.

The company said it will look to spend more capital on the development of its offshore and clean energy business in the future.

Shanghai Bestway reported a net profit of RMB13.4m ($2.11m) for the first three quarter of this year, down 9% year-on-year.

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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