Yangzijiang Shipbuilding acquires major stake in domestic bulker owner

Yangzijiang Shipbuilding acquires major stake in domestic bulker owner

Chinese major private shipbuilder Yangzijiang Shipbuilding has entered into a sale and purchase agreement to acquire a 60% stake in Jiangsu Huayuan Logistics to further expand its shipowning business.

Jiangsu Huayuan Logistics holds 100% equity interest in Shanghai Huayuan Shipping, which owns a fleet of four handymax bulk carriers.

The total value for the acquisition is RMB180m ($28.5m).

Yangzijiang Shipping, the fast growing shipowning unit of Yangzijiang Shipbuilding, currently operates a fleet of 13 bulk carriers comprising seven ultramaxes, five post-panamaxes and one panamax.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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