Zhonggu Logistics

Zhonggu Logistics buys into Tianjin port unit

Zhonggu Logistics, China’s largest domestic liner operator, has acquired a 35% in one of Tianjin Port’s subsidiary logistics firms, paying US$108.84 million for the stake on 7 January.

Zhonggu said in a filing to the Shanghai Stock Exchange that the acquisition of a stake in Tianjin Port No. 4 Port, will accelerate the development of the company’s container business, deepen its cooperation with Tianjin Port, which is one of the busiest container ports in Asia and the world, having handled more...

https://container-news.com/zhonggu-logistics-buys-into-tianjin-port-unit/

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/

Zhonggu’s earnings rocket by 214% in first nine months of 2021

Zhonggu Logistics, China’s largest domestic liner operator, saw its net profit grow by 214% year-on-year to US$240 million in the first nine months of 2021.

While container demand along China’s inland waterways is healthy, Zhonggu said that the historically red-hot market has created an anomaly of domestic vessels being chartered out to fulfill demand from mainline operators. This has resulted in an additional revenue stream.

In April, Zhonggu sold four Panamax ships to mainline operators MSC and...

https://container-news.com/zhonggus-earnings-rocket-by-214-in-first-nine-months-of-2021/

Zhonggu profit skyrockets by 343% in the first half

Zhonggu Logistics, China’s largest domestic liner operator, said that 2021 first half net profit rocketed 343% year-on-year to US$170.43 million as tight shipping capacity continued to put upward pressure on freight rates.

Revenue went up 26% to US$867.49 million, of which inland water transportation contributed 80%; the rest came from land-based services.

Zhonggu, the 16th largest liner operator, stated that cargo volumes were up 9% in 1H 2021, to 6.2 million TEU.

During the first six months of...

https://container-news.com/zhonggu-profit-skyrockets-by-343-in-the-first-half/

Zhonggu profits from Panamax quartet sale

Taking advantage of the red-hot container shipping market, China’s largest domestic liner operator Zhonggu Logistics will reap a profit of at least US$69 million from selling four Panamax ships.

In a filing to the Shanghai Stock Exchange on 26 April, Zhonggu said that the ships, Zhong Gu Guang Dong (built 2008), Zhong Gu Guang Xi (built 2008), Zhong Gu He Bei (built 2005) and Zhong Gu Zhe Jiang (built 2004), will be sold to a major liner operator for a total of between US$128 million and US$135...

https://container-news.com/zhonggu-profits-from-panamax-quartet-sale/

Wuhan unveils multimodal ambitions

Wuhan is eyeing more container routes as the Chinese river-port embarks on the second phase of a river-rail project that will make it China’s largest inland river-rail transportation base.

Located along the Yangtze River, Wuhan, originally the Covid-19 epicentre, has been making an economic recovery, posting container throughput of 1.96 million TEU in 2020, accounting for 85% of containers handled by ports in Hebei province.

Li Ying, deputy director of the Wuhan New Port Management Committee,...

https://container-news.com/wuhan-unveils-multimodal-ambitions/

Zhonggu raises capital as profits soar

Zhonggu Logistics will issue up to 133,333,333 A-shares to raise CNY3 billion (US$461 million) that will finance newbuildings, new containers and develop information technology solutions, following the company’s 2020 net profits to CNY1.02 billion (US$157 million), a 19% year-on-year increase.

China’s largest domestic liner operator, which launched its first overseas route in March, stated that it transported 13.1 million TEU in 2020, up 13% year-on-year.

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https://container-news.com/zhonggu-raises-capital-as-profits-soar/

Zhonggu Logistics Finalizes 18-ship Newbuilding Plan

Chinese feeder boxship operator Zhonggu Logistics has finalised orders for its recently announced newbuilding program of eighteen 4,600 teu boxships by ordering the last eight ships at China Merchants Jinling Shipyard, reports Lloyd’s List.

Option for two more ships

Earlier this month, the company also ordered ten 4,600 teu ships at Yangzijiang Shipbuilding. The order at China Merchants Jingling is made up of six firm ships and options for another two.

The vessels are scheduled for delivery...

https://mfame.guru/zhonggu-logistics-finalizes-18-ship-newbuilding-plan/

Zhonggu Logistics set for IPO

Zhonggu Logistics, an affiliate of China’s largest domestic liner operator Zhonggu Shipping Group, plans to raise CNY1.5 billion (US$214 million) through an IPO of its shares on the Shanghai Stock Exchange.

The China Securities Regulatory Commission approved Zhonggu Logistics’ IPO application on 23 July 2020. Chinese investment bank China International Capital Corporation is underwriting the share issuance.

Previously listed on Chinese over-the-counter bourse National Equities Exchange and...

https://container-news.com/zhonggu-logistics-set-for-ipo/