Dry CargoGreater ChinaShipyards
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.