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You are here: Home → Archive → 2009 → July → 17 → Grand China Logistics takes 50% stake in Jinhaiwan

Grand China Logistics takes 50% stake in Jinhaiwan

by Hui Ching-hoo - Lloyd's List — last modified Jul 17, 2009 12:11 PM

Rapidly expanding conglomerate Grand China Logistics (GCL) has finalised the purchase of a 50% stake in Zhoushan Jinhaiwan Shipyard for Yuan6.4bn (US$941m) through a mix of cash and newbuilding orders.

Under the agreement, GCL contracted Zhoushan Jinhaiwan to build 30 bulk carriers for US$2bn, a portion of which will go toward the purchase of the yard stake, while the remainder will be paid in cash.

Chairman of...

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