China’s state-run energy group Shenhua Group has announced the appointment of Zhang Jiming as the new president of the company for a term of three years.
Prior to the appointment, Zhang was the vice president of the company.
Shenhua Group is currently in the final stage of merging with another state-run energy company Guodian Group.
Following the merger, Shenhua Group will change its name to China Energy Investment Corporation and absorb Guodian Group.
The merger will also a create a large combined bulker fleet. Shenhua owns a fleet of over 40 bulkers while Guodian operates a fleet of 16 bulkers via its subsidiary Tianjin Guodian Shipping.