ZPMC Invests in COSCO to Enhance Business with Terminal Companies

coscoIllustration; Image Courtesy: Pixabay under CC0 Creative Commons license

China’s crane manufacturer Shanghai Zhenhua Heavy Industries (ZPMC) has decided to invest in compatriot shipping company COSCO Shipping Holdings by acquiring CNY 419.9 million (USD 62.8 million) worth of COSCO shares. 

ZPMC recently signed the share subscription agreement with COSCO Shipping Holdings for private A share of 111,111,111 at the price of CNY 3.78 for each share.

As explained, the investment is expected to further deepen collaboration between ZPMC and COSCO in the port machinery, maritime engineering as well as services and logistics.

Specifically, ZPMC intends to enhance business with various terminal companies by using COSCO’s industrial influence on terminal companies around the globe.

The crane manufacturer expects long-term benefits of this strategic partnership.

COSCO Shipping Holdings, which is principally engaged in container shipping and related businesses, is a subsidiary of China Ocean Shipping (Group) Company (COSCO), the largest integrated shipping company in China.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >