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 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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