Wuhan University of Technology enters shipbuilding sector

Wuhan University of Technology enters shipbuilding sector

WUT Ship, an affiliate ship design company of Wuhan University of Technology (WUT), has signed an agreement with Ezhou Guangda Shipbuilding to set up a joint venture called WUT Guangda Shipbuilding.

WUT Ship will invest RMB51m ($7.5m) for a 51% stake of the jv while Guangda Shipbuilding will take a 30% share, while the remaining 19% will be held by private equity funds.

The joint venture will use the yard at Guangda Shipbuilding to conduct shipbuilding activities. Guangda Shipbuilding mainly builds bulk carriers, offshore vessels as well as ferries.

WUT Ship said the jv will use its advantages in river-sea cargo ship design and create new growth for the company.

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.

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