China Shipping Group has signed a strategic co-operation agreement with Shenhua Group in a joint shipping venture that will carry coal to Shenhua’s power plants.
Zhuhai New Century Marine Co, a 50-50 venture between China Shipping Development and China Shenhua Energy, will become the main supplier of coastal coal transport services to power plants within the Shenhua Group under the deal. It will undergo a big newbuilding and acquisition programme in an effort to attain shipping capacity of 1m dwt by 2010....
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This complete item is approximately 325 words in length, and appeared in the March/April 2007 issue of CoalTrans International, on page 6.
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