ZPMC to acquire 50% stake in four GPO heavy lift vessels

ZPMC to acquire 50% stake in four GPO heavy lift vessels

Port machinery manufacturer Shanghai Zhenhua Heavy Industries (ZPMC) has announced a plan to acquire 50% of Greenland Heavylift Holdings (Hong Kong) for $63.5m.

Greenland Heavylift Holdings (Hong Kong) is a new shipowning entity established by GPO Heavylift and will own four single vessel companies, the four 65,000 dwt heavy lift vessels currently on order at Taiwan’s CSBC Corporation. Two of the vessels are set to be delivered this year.

ZPMC has the option to increase its stake in Greenland to 51%.

ZPMC believes the equity investment will bring substantial new growth to the company’s shipping operations.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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