Antong Holdings

CULines and Antong strengthen cooperation

China United Lines (CULines) and Antong Holdings, parent of Quanzhou Ansheng Shipping, have signed a pact to jointly invest in shipping and logistics.

The agreement includes the joint deployment of four 1,900 TEU ships that CULines ordered at CSSC Huangpu Wenchong Shipbuilding in February 2021 and are being gradually delivered currently.

The pact, signed on 22 September, extends a relationship which already saw CULines charter a dozen  4,100 – 4,700 TEU ships from Antong for the East-West trades...

https://container-news.com/culines-and-antong-strengthen-cooperation/

Chinese domestic carrier Antong back in business and buying containers

Chinese domestic container shipping and logistics group Antong Holdings is resuming capital investments after emerging from state-led restructuring last year.
The group said in a Shanghai Stock Exchange filing yesterday its subsidiary, Quanzhou Antong Logistics, is buying 3,055 second-hand containers from Tianjin Dongjiang Eaton Leasing, a subsidiary of Aviation Industry Corp of China (AVIC), to meet rising demand amid the unprecedented spike in freight rates.
The acquisitions includes 1,883...

https://theloadstar.com/chinese-domestic-carrier-antong-back-in-business-and-buying-containers/

Antong continues recovery with Q1 profit

Antong Holdings, the parent company of China’s second largest domestic liner operator Quanzhou Ansheng Shipping, has released its Q1 figures, with a CNY43.76 million (US$6.66 million) net profit, compared with a CNY121.28 million (US$17.08 million) net loss in Q1 2020.

Revenue was up 58% to CNY1.29 billion as business picked up amid a recovery in demand for container shipping.

The results show the group is on the road to recovery. In December 2020, Antong completed a year-long government-led restr...

https://container-news.com/antong-continues-recovery-with-q1-profit/

Antong completes year-long reorganisation

Chinese domestic liner shipping group Antong Holdings announced on 19 December 2020 that it has completed its year-long restructuring process.

Alluding to its two main subsidiaries, Quanzhou Ansheng Shipping and Quanzhou Antong Logistics, Antong said, “After the company began restructuring, we have resolved the debt crisis of our two core subsidiaries through debt settlement, capital investment, and financial assistance. These have greatly improved the subsidiaries’ balance sheets.”

Antong said...

https://container-news.com/antong-completes-year-long-reorganisation/

Antong gets US$688 million cash injection

Fujian Zhaohang Logistics, the government-led entity that is restructuring struggling Chinese domestic liner shipping group Antong Holdings, has, with 12 other Chinese investors, injected CNY4.53 billion (US$688 million) into the company.

Of the funds, CNY1.35 billion (US$205.24 million) came from Fujian Zhaohang, a joint venture between China Merchants Port Holdings, AVIC Trust and Quanzhou’s municipal government.

Following the cash injection, Antong’s next step will be to implement...

https://container-news.com/antong-gets-us688-million-cash-injection/

Chinese investment company acquires Antong assets

A privately owned Chinese investment management company has acquired part of Antong Holdings’ cold chain operations and a ship from the struggling liner operator after an auction on e-commerce site Taobao.

In a filing to the Shanghai Stock Exchange, Antong said that Shenzhen Qianhai Hanghui Investment Management Company (a literal translation of the Chinese name) had acquired all the assets of Southeast Cold Chain Storage and Guangxi Changrong Shipping after the auction closed on 24 October.

https://container-news.com/chinese-investment-company-acquires-antong-assets/

Antong auctions ship after government bailout

Just a day after securing a government bailout, cash-strapped Chinese domestic liner operator Antong Holdings has begun selling assets to raise cash.

On 15 October Antong’s administrators announced that from 22-23 October, all the assets of the group’s wholly owned subsidiary, Guangxi Changrong Shipping, will be auctioned on Chinese e-commerce site Taobao.

Guangxi Changrong is the vessel-owning vehicle for Chang Rong 6, a 2013-built 798TEU general cargo ship to be sold, with bids starting from...

https://container-news.com/antong-auctions-ship-after-government-bailout/

Troubled Antong mulls restructuring options

Chinese state-owned groups China Merchants Port Holdings (CMPH) and Aviation Industry Corporation of China (AVIC) have expressed an interest in restructuring troubled Chinese domestic container shipping group Antong Holdings.

In filings submitted to the Shanghai Stock Exchange (SSE) on 24 July 2020, Antong, which operates a liner service through Quanzhou Ansheng Shipping, said that it had signed an agreement with AVIC Trust, a non-banking financial institution.

On 28 July 2020, Antong made...

https://container-news.com/troubled-antong-mulls-restructuring-options/

China’s securities watchdog punishes Antong bosses

Guo Dongze and Guo Dongsheng, majority shareholders of Chinese domestic container operator Antong Holdings, and other senior staff have been penalised by the China Securities Regulatory Commission (CSRC) for failing to disclose lawsuits against the company.

Antong Holdings stated in a filing to the Shanghai Stock Exchange on 4 July that CSRC’s investigations showed that from February 2017 to March 2019, the Guo brothers provided unauthorised guarantees amounting to CNY633.36 million (US$90.15...

https://container-news.com/chinas-securities-watchdog-punishes-antong-bosses/

Government pays to refloat troubled domestic carrier Antong

Antong Holdings, parent company of Chinese domestic operator Quanzhou Ansheng Shipping, will receive around US$8.4 million in government subsidies, after disclosing estimated losses of at least US$428 million for 2019.

Antong was placed under judicial management to restructure its debts on 18 December 2019 after failing to settle payments to suppliers, including container lessors and bunker suppliers. The company said it also risks being delisted from the Shanghai Stock Exchange.

A company...

https://container-news.com/government-pays-to-refloat-troubled-domestic-carrier-antong/