Milkway enters chemical tanker shipping

tanker at sea
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Milkyway Chemical Supply Chain has acquired an 80% equity stake in Zhoushan Zhonggu Shipping formally entering into the bulk liquid chemicals shipping market.

With this step, Milkyway expands its supply chain and forwarding capacities to include the shipping of chemical tankers.

“As large domestic crackers and downstream projects gradually come into production, the volume of coastal shipping of liquid chemicals is increasing. Meanwhile, the international market is also growing with great potential due to fluctuations in chemical production capacities in Europe and America. Considering customer-centricity and flexible response to market demand, Milkyway had reached the agreement to acquire the assets of Zhoushan Zhonggu Shipping and officially entered the bulk liquid chemical transportation market,” Milkyway said.

Zhoushan Zhonggu Shipping operates four 4,000 dwt stainless steel chemical packet tankers that provide domestic coastal shipping services for many chemical companies, and 80% of the revenue comes from COA contracts.

While continuously developing domestic warehouse distribution integration and international transportation business, Milkyway launches raw material and chemical mail order business and improves service capacity of one-stop supply chain from raw material to finished product. Going forward, Milkyway plans to expand ship transportation capacity by investing in new ships, leasing them and serving Southeast and Northeast Asia.

Group Vice President Jeff Wang said Milkyway Shipping, which focuses on Asia and global freight forwarding, will rapidly expand our tanker fleet, build our talent team and serve our customers.

Source: News Network

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