Xingtong Shipping To Expand Chemical Shipping Market

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On March 31, Xingtong Shipping issued a fixed capital increase plan.The company plans toraise no more than 1.124 billion yuan for the purchase and construction of stainless steel chemical tankers, LPG ships, and supplementary working capital, reports Xinde Maritime.

 Further deepening the layout

Xingtong plans to expand the overall transportation capacity scale through this fixed increase, further deepen the layout in the field of chemical and clean energy transportation, and actively explore the international market.

Xingtong Shipping was listed in March 2022. It is a leading enterprise in the domestic bulk liquid chemical water transportation industry, mainly engaged in the marine transportation of liquid chemicals, refined oil, and liquefied petroleum gas.

Judging from the fundraising plan, the fundraising project will focus on the company’s main business of shipping and transportation. One is the purchase and construction project of stainless steel chemical tankers, and it is planned to use 649 million yuan of raised funds.
The second is the LPG ship purchase and construction project. It plans to use 175 million yuan of raised funds.And it plans to invest 300 million yuan to supplement working capital.
Xingtong said that the company plans to purchase and build two LPG ships to expand the scale of LPG transportation capacity and increase the company’s share in the domestic LPG water transportation market.

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Source: Xinde Maritime