Container News reported that Shanghai-listed Guangdong Songfa Ceramics, a company within the larger Hengli conglomerate, recently announced its decision to acquire a stake in shipbuilder Hengli Heavy Industries, according to DynaLiners. This acquisition aligns with Hengli Heavy Industries’ recent momentum, marked by a letter of intent from the container shipping giant MSC to build ten 21,000 TEU LNG-fueled vessels.
Strategic Acquisition and Financing Approach
Guangdong Songfa Ceramics plans to sell assets and issue new shares to finance the acquisition. Although the exact extent of the acquisition remains unconfirmed, DynaLiners indicates this may involve the sale of a significant portion, if not all, of Songfa’s assets. This move showcases Guangdong Songfa’s intent to diversify into the shipbuilding industry, leveraging its ties within the Hengli conglomerate.
Expanding Shipbuilding Capabilities in Response to Demand
Hengli Heavy Industries, with its focus on sustainable LNG-fueled vessel construction, stands to benefit from the transaction as demand for eco-friendly shipping solutions rises. The potential partnership with MSC underscores Hengli’s readiness to meet large-scale, modernized fleet requirements, positioning it as a competitive player in green shipping technologies.
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Source: Container News
