Guangzhou: China Shipping Bulk Carrier Co, a subsidiary of China Shipping Development Co, was established in Guangzhou yesterday.
The company will gradually integrate all the bulk shipping business of China Shipping Group, and will operate and manage more than 180 of China Shipping's bulk carriers with a total capacity of 11m dwt, to become the largest bulk shipping company in China and the fifth largest in the world.
"China Shipping Bulk Carrier Co has already had strategic cooperations with a lot of big names like Baosteel, Wuhan Steel, Shougang Steel, Shenhua, State Power and so on, the company is expected to have a total capacity of more than 20m dwt by the end of 2015," the company said in an release.