Wah Kwong takes next step in shipmanagement drive with Shenzhen office opening

Wah Kwong, a bluechip name in Hong Kong shipowning circles, today takes another stride in its business strategy to serve as a bridge of maritime expertise for mainland shipping companies.

The Chao family controlled company opened a shipmanagement branch office in Shenzhen, across the border from Hong Kong, this morning with the volume of ships it now manages for third parties exceeding its own managed fleet and demand from Chinese entities growing.

The Wah Kwong managed fleet is on track to top 50 ships this year with the majority of new business coming from Chinese leasing houses, which Wah Kwong has struck up close relationships with in recent years, helping finance its own fleet expansion as well as entering into Chinese joint ventures.