Zhuhai Port to borrow $9m for fleet expansion

Zhuhai Port to borrow $9m for fleet expansion

Zhuhai Port has announced that it plans to apply for a RMB62m ($9m) loan from China Resources Bank of Zhuhai.

The loan will be used to support the newbuilding projects of Zhuhai Port Shipping, the shipowning unit of Zhuhai Port.

In May, Zhuhai Port announced a plan to raise $145m via new share issue to fund the fleet expansion.

Zhuhai Port Shipping was set up in 2017 and set a target of forming a fleet of 55 vessels for bulk transport in the domestic river and coastal regions.

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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