Greater China

TCC forms bulker venture with K Line

Hong Kong: The Tai Chong Cheang Group (TCC Group) announced that it has established a joint venture with Japanese shipping giant, Kawasaki Kisen Kaisha (K Line). The joint venture, TK50, was launched in Hong Kong with the signing of the shareholders agreement and a contract for the construction of a 182,200 dwt capesize newbuilding at Japan’s Imabari Shipbuilding.

“The joint venture aims to pool the strengths and shared values of our two organisations to provide quality international bulk transport services for prime customers. It is our wish that the TK50 joint venture will be the platform, not just for cooperation in drybulk shipping, but will also expand over time to other strategic areas where the best practices and competitive advantages of TCC and K Line would be shared and harnessed in close business partnership,” said K Line president and ceo Jiro Asakura.

“In today’s increasingly fragmented and commoditised shipping industry, closer collaboration between traditional shipowners would be so important in guarding and continuously improving the demanding standards of international shipping with a united voice,” said TCC Group chairman and ceo Kenneth Koo. Koo will be speaking at the upcoming SinoShip Dry Bulk Business Breakfast at Hong Kong’s Foreign Correspondents’ Club in one week’s time. [12/11/14]

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