Zhonggu Shipping raises $87m for fleet expansion

Zhonggu Shipping raises $87m for fleet expansion

Shanghai-based container shipping company Zhonggu Shipping has announced a plan to raise RMB600m ($87m) through issuing 30m new shares.

Zhonggu Shipping will use the proceeds to fund the construction of ten 2,500 teu containerships and the acquisition of 65,000 containers.

In May, Zhongu Shipping orderd four 2,500 teu containerships with options for an additional two at Shanghai Shipyard. In June, the company placed an order for four 2,500 teu containerships at Jinling Shipyard.

Delivery of the vessels will start from March 2018.

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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