China’s Zhuhai Port has announced plans to set up financial leasing unit Zhuhai Port Financial Leasing Company as part of its latest strategy to expand into ship finance business.
Zhuhai Port believes the financial leasing business will meet the group’s increasing financial demands and enhance the risk management capability of the group, creating synergies for the group’s existing businesses.
Zhuhai Port has been making great efforts to diversify in recent years. In December last year, the port entered into the shipowning sector after announcing a plan to raise around $224m to fund the establishment of a bulker fleet.
In March, the company also formed a bulker joint venture with Dalian-based owner Success Network.