China Knowledge reported that Hainan Strait Shipping Co Ltd which is engaged in passenger transportation and rolling ship business in the South Sea, China signed an agreement with a harbor service provider based in Xuwen County, Zhanjiang, Guangdong Province to set up a joint venture with a registered capital of CNY 30 million.

The Shenzhen-listed firm will hold a 51% stake in the JV.

In the initial stage, the two sides will invest a total of CNY 150 million to build two roll-on/roll-off ships to provide cargo transport service from Haikou, Hainan Province to Haian, Jiangsu Province.

The new transportation service will bring about CNY 107.97 million in operating revenue and CNY 41.2 billion in net profit.

Sourced from China Knowledge
 

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