China Yangzijiang Sets up Ship Leasing Unit Based in Singapore


 
China's Yangzijiang Shipbuilding has set up a ship leasing and chartering company to position itself for consolidation opportunities based in Singapore.
 
The subsidiary Yangzijiang Taihua Shipping was under setting up with several strategic partners by Yangzijiang Shipbuilding and the initial capital is $1,100 which can split to 49.45% by Yangzijiang and 50.55% by other unclosed investors.
 
In August last year, Yangzijiang Shipbuilding raised over $150 million from its rights issue.
 
It is believed the new subsidiary will help to better position itself in the shipbuilding when opportunities arise in the current consolidation trend.
 
Sources: Xinde Marine News
Editor: Carrie Zhu

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