On September 1, Fujian Haitong Development Co., Ltd. (hereinafter referred to as “Haitong Development”) issued the “Announcement on the Progress of the Purchase of Two Vessels by a Wholly-Owned Subsidiary”.
The announcement disclosed that to further expand shipping capacity and improve its fleet, Haitong Development’s wholly-owned subsidiary, Greater Nanning Shipping Co., Ltd. (hereinafter referred to as “Greater Nanning Shipping”), purchased a multi-purpose general cargo vessel from Helene Braren, and Greater Chongqing Shipping Co., Ltd. (hereinafter referred to as “Greater Chongqing Shipping”) purchased a multi-purpose general cargo vessel from Simon Braren. The MOA agreements were signed on September 1st. The total contract value of the transactions was US$32 million.
According to previous reports, on July 8, Haitong Development announced that the company and its wholly-owned subsidiaries plan to acquire dry bulk carriers for no more than US$65 million, with the funds sourced from proprietary capital (including self-raised funds).
Public information indicates that Haitong Development primarily engages in domestic coastal and international ocean-going dry bulk cargo transportation. In domestic coastal transportation, the company primarily transports coal, while also actively expanding into other dry bulk cargoes such as ore and slag. In international ocean transportation, the company operates routes to over 300 ports in over 80 countries and regions, providing customers with maritime transport services for a variety of cargoes, including ore, coal, grain, fertilizer, and general merchandise.