Dry CargoGreater China

Zhongchang Marine to transfer subsidiary’s equity

Shanghai: Zhongchang Marine has announced that the company is to transfer 100% equities of its subsidiary Zhongchang Marine Shanghai and Putuo Zhongchang Marine to Shanghai Xingming Real Estate, the second biggest shareholder of the company.

All the equity transfer payment will be paid in cash.

When the deal is completed, the subsidiaries will not directly operate bulk cargo transport business, and all the bulk carriers of the subsidiaries will be chartered to Zhongchang Marine.

Katherine Si

Having majored in English Katherine started out at news portal ShippingChina.com where she rose to become News Editor. In 2008 she moved to work with Sam Chambers and has since held numerous positions including China correspondent for Seatrade magazine. Katherine is in touch with Chinese owners and yards on a daily basis and has had many prestigious news scoops reporting China’s fast evolving maritime scene.
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