Cosco Shipping Energy Transportation Consolidates Chemical Shipping Assets

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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

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Source: Seatrade Maritime