Listed on the new three board shandong shipping (835589) recently announced that said its wholly owned subsidiary of shandong shipping (Hong Kong) holding co., LTD and Fleet Management Limited joint venture set up joint venture company, the name of the company to be determined, Management field for ship Management, ship manufacturing, maritime consulting, etc.

The new company is reported to have invested $10, 000 each in 50 per cent of the shares. Shandong maritime said that the establishment of a joint venture company is in line with the company's strategic development needs to improve the management of ships and expand the management of ships and seamen. Reduce the fleet operation cost and bring long-term and stable operating profit for the company.

Shandong shipping co., LTD., founded in 2010, is approved by the people's government of shandong province, as the controlling shareholder by shandong ocean investment co., LTD is a large state-owned shipping enterprises, the headquarters is located in Qingdao, the registered capital is 3 billion yuan RMB. Mainly engaged in Marine transportation, cargo handling, transit, multimodal transport, warehousing and other integrated logistics services, international and domestic freight forwarders, imports and exports of goods and technology import and export, ship leasing, crew training, sailing, technology consulting and information service, etc. On January 12, 2016, shandong shipping listed new third board.

Fleet Management, headquartered in Hong Kong, is one of the world's largest third-party ship Management companies with a 24-year history. There are now more than 450 vessels and 20,000 seamen. Company manages, including bulk carrier, container ship, cargo ship, oil tanker, chemical tanker and gas carrier series of ships, load tons from 300 tons to 319000 tons, including a new ship and energy-saving, age distribution below the industry average. Fleet Management is a member of Caravel Group, which is also headquartered in Hong Kong and specializes in maritime services, bulk trade and investment Management.