Greater China

Zhenhua Shipping changes business model

Shanghai: The general manager of ZPMC’s shipping line is interviewed by our sister site Maritime CEO today. Chen Bin, general manager of Zhenhua Shipping, discussed how the line has had to change its operational structure and pursue third party business in the wake of a slump in orders for new port machinery. ZPMC is the world’s largest port equipment manufacturer.

Zhenhua Shipping, established in 1996, grew in tandem with the exponential growth in container terminals across the world seen in the previous decade. However, the very best days of such growth are now in the past, which has meant Zhenhua Shipping has had to transform and offer its services to third parties.

“In order to enter this new market and face new demands, both the structure and scale of the fleet need to be adjusted. The expansion of capacity is unavoidable, but the new capacity has to be efficiently matched with market demand. The company will spend about three years to adjust the fleet structure and further enhance operating levels,” Chen said.

The full interview can be accessed here.  [26/02/14]


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