Cosco Shipping Energy Transportation will bring the chemical shipping and supply chain assets of parent Cosco Shipping into its business, reports Seatrade Maritime.
Integrated operation
The newly set up Dalian Cosco Shipping Energy Transportation Supply Chain Company will merge together Cosco Shipping’s LPG and chemical products’ transportation, warehouse and logistics assets for integrated operation.
New company
The new company will sign share acquisition and assets purchase agreements with Shanghai Cosco Shipping and Cosco Shipping Dalian Investment to acquire:
- A 70% equity stake in Shenzhen Cosco Longpeng LPG Shipping which operates six LPG vessels
- A 87% stake in Hainan Zhaogang Shipping which is engaged in LPG shipping
- 15% equity in Dalian Xizhongdao Zhonglian Port Company focused on port service
- Two LPG vessels
Did you Subscribe to our daily newsletter?
It’s Free Click here to Subscribe!
Source: Seatrade Maritime
