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Shunyu Shipping, a joint venture between state-run Xiamen Xiangyu and Shunda Mining, has officially launched focusing on the capesize trades between China and West Africa.
Backed by Xiangyu’s extensive expertise in international commodity trading and Shunda’s mining operations in Guinea, Shunyu aims to control the full logistics chain from ore extraction in Africa to steel and energy markets in China.
The aim is to shift project cargo and industrial equipment westbound from China to Africa, and then move iron ore and other commodities from Guinea back to China.
The company recently completed its maiden voyage, delivering 21,000 cu m of Chinese equipment to Guinea.
Rather than rely solely on chartered capacity, Shunyu plans to gradually build its own fleet, taking cues from Xiangyu’s existing shipping platform, which currently operates six vessels, including both bulk carriers and deck cargo ships.
The post New Chinese owner focuses on Guinea cape trades appeared first on Energy News Beat.
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