Tianhai Investment spends $346m on credit firm

Tianhai Investment spends $346m on credit firm

Tianhai Investment, formerly Tianjin Marine, has announced that it plans to spend up to RMB2.2bn ($346m) to acquire a 27% stake in China United SME Guarantee Corporation (Sino Guarantee).

Sino Guarantee is a government-backed firm, that mainly provides credit enhancement products for bonds and loans. Tianhai Investment said the acquisition will create synergies between the company’s main business and relevant businesses in the financing sector.

Tianhai Investment, traditionally a container shipping company, has recently moved into the VLCC and LNG sector and is currently inviting tenders for the construction four VLCCs.

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.

Related Posts