Shandong Shipping acquires major stake in cold chain logistics firm
Shandong Shipping will acquire 65% shares of the company from Japanese logistics company Itochu Logistics and the other 5% from Japanese warehousing company Yamate Reizo.
Shandong Aitong Haifeng is a cold chain logistics company, jointly invested by Itochu Logistics, Yamate Reizo and Chinese container ship operator SITC.
Following the completion of the transaction, Shandong Aitong Haifeng will become a joint venture between Shandong Shipping and SITC. Shandong Shipping currently operates a fleet of 28 vessels, comprising of 12 bulkers, 7 oil tankers and 9 LPG vessels.