Yangzijiang establishes vessel leasing & chartering subsidiary

SINGAPORE (Jan 10): Yangzijiang Shipbuilding’s wholly-owned subsidiary Yangzijiang Shipping is establishing a 49.45%-owned private limited company in Singapore named Yangzijiang Taihua Shipping together with several strategic partners for US$1,100 ($1,468).

Taihua, whose principal activity is related to leasing and chartering vessels, will be considered a subsidiary of Yangzijiang by virtue of its control over the composition of the board of directors of Taihua.

The remaining 50.55% equity interest in Yangzijiang Taihua will be held by the strategic partners, who were not named by the group in its announcement of the transaction on Wednesday.

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