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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 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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