On the morning of October 20th, the unveiling ceremony for Suhao Innovation & Technology Overseas Co., Ltd. was grandly held at Suntec City, Singapore. Ding Hai, Vice President of Suhao Holding Group, unveiled the plaque and delivered a speech. Zhou An, Party Committee Secretary and Chairman of Suhao Innovation & Technology Group, attended the ceremony. Representatives from multiple shipping companies, including Zhejiang Shipping (Singapore) Co., Deyun Shipping (Singapore) Co., and Rongda Shipping (Singapore) Co., participated in the event.
In his speech, Ding Hai emphasized that as international market competition intensifies, “going global” is a crucial strategy for enterprises to address current international challenges and explore new opportunities. He stated that the establishment of the overseas company should be used as an opportunity to drive the coordinated transformation of the company’s intelligent innovation and shipbuilding, forming new advantages in global competition. Firstly, the business must strive for excellence, continuously improving business quality and service levels to build a high-quality brand for the Group’s overseas operations. Secondly, it is essential to accelerate substantive operations, quickly establish a foothold in the local Singapore business market, actively integrate into the Singaporean and overseas market environments, proactively expand partnerships, and steadily advance incremental business. Thirdly, long-term goals must be set, basing operations in Singapore while having a global perspective, continuously exploring new business growth points, and striving to make the overseas company a core support point for the Group’s overseas business development.
Zhou An introduced the business layout and development achievements of Suhao Innovation & Technology Group. He stated that Singapore is a world-renowned financial and shipping hub. Suhao Innovation & Technology Overseas Co., Ltd. will fully leverage its resource advantages, focusing on core businesses such as ship trading and shipping services, and strive to build a specialized overseas trading platform company. In the future, the company will use the overseas entity as a link to deepen communication and cooperation with various partners, achieve resource sharing and complementary advantages, and create more opportunities for win-win cooperation.
The opening day was highly productive, with Suhao Innovation & Technology Overseas Co., Ltd. reaching cooperation intentions with several well-known shipowners. On-site, a cooperation intention was reached with Zhejiang Shipping (Singapore) Co. for a 63,500 DWT bulk carrier, with a total value of USD 150 million (approximately RMB 1.068 billion). Discussions were held with Rongda Shipping (Singapore) Co. and Deyun Shipping (Singapore) Co. regarding future newbuilding cooperation, with thorough discussions on further deepening cooperation between the parties. On October 17th, the second self-operated 63,500 DWT bulk carrier built by Suhao Innovation & Technology Shipbuilding was successfully delivered, helping the company’s import and export scale reach USD 650 million (approximately RMB 4.628 billion), a year-on-year increase of 62%.
It is understood that Suhao Innovation & Technology Group is a company under Suhao Holding Group, a large state-owned sole-proprietorship enterprise group under the Jiangsu Provincial Government. It was formed through the merger and reorganization of three companies: Shuntian Machinery, Shuntian Minmetals, and Shuntian Assets, and was officially inaugurated in April 2024. Shuntian Shipbuilding (Yangzhou), under Shuntian Assets, was consequently integrated into Suhao Innovation & Technology Group.
Shuntian Shipbuilding (Yangzhou) is the largest modern shipbuilding enterprise among state-owned enterprises under the Jiangsu Provincial Government. It covers an area of approximately 1,050 mu, with a 930-meter shoreline. It possesses one ship dock, one shipbuilding berth, two outfitting quays, and is equipped with two 500-ton gantry cranes. It boasts advanced shipbuilding-specific equipment and primarily produces bulk carriers, container ships, heavy-lift vessels, multi-purpose vessels, and offshore engineering vessels below 100,000 DWT.
The establishment of Suhao Innovation & Technology Overseas Co., Ltd. is a milestone in the company’s development history, marking a critical step towards internationalization. In the future, the company will adopt a more open posture, joining hands with global partners to jointly promote the high-quality development of the shipping industry chain, inject new momentum into the joint construction of the “Belt and Road” initiative, and contribute to building a more open, inclusive, cooperative, and win-win global economic landscape.
