China Shipping Container Lines and Yangshan International have formed a joint venture that will engage in container storage and shipping, international shipping and other services for logistics and manufacturing enterprises.
The joint venture, Yangshan International Container Storage and Shipping, will require an investment of RMB235 million (US$35.4 million).
China Shipping Container's parent company, China Shipping, owns 440 ships with a total tonnage of 22 million deadweight tons. It currently has a cargo capacity of 500,000 twenty-foot equivalent units (TEUs).
CapitalVue reports that the group's annual cargo transport volume totals nearly 400 million tons and 10 million TEUs.