China Merchants and Qingdao Port establish joint venture

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Recently, Shandong Sinotrans Chemical International Logistics Co., Ltd. was officially established with a registered capital of 40 million yuan and its legal representative is Wang Hongqiang.

According to Qichacha information, the company’s main business scope includes: international freight forwarding, air international freight forwarding, maritime international freight forwarding, land international freight forwarding, domestic container cargo transportation agency, domestic cargo transportation agency, non-vessel operating common carrier business, general cargo warehousing services (excluding projects requiring permits and approvals such as hazardous chemicals), port tallying, container rental services, transportation equipment rental services, warehousing equipment rental services, supply chain management services, road cargo transportation (excluding dangerous goods), road dangerous goods transportation, customs supervision goods warehousing services (excluding hazardous chemicals and dangerous goods), etc.

In terms of equity, Shandong Sinotrans Chemical International Logistics Co., Ltd. is 31% owned by Sinotrans Chemical International Logistics Co., Ltd., 30% owned by Qingdao Port International Logistics Co., Ltd., 29% owned by Sinotrans Huazhong Co., Ltd., and 10% owned by Shandong Weihai Port Development Co., Ltd.

Among them, Sinotrans Chemical International Logistics Co., Ltd. is a controlling subsidiary of Sinotrans Limited (referred to as Sinotrans). Its business scope covers international freight forwarding, road transportation of dangerous goods and highly toxic substances, warehousing, bulk chemical logistics, multimodal transport, project logistics, and value-added services. It is one of China’s largest tank container operators.

Sinotrans Huazhong Co., Ltd. is a company under Sinotrans. It is a modern, comprehensive large-scale logistics enterprise integrating international shipping, international freight forwarding, ship agency, international multimodal transport, ship chartering, container yards, customs declaration and inspection, and comprehensive logistics services.

Both Qingdao Port International Logistics Co., Ltd. and Shandong Weihai Port Development Co., Ltd. are subsidiaries of Qingdao Port International Co., Ltd.

The former’s business focuses on freight logistics, full-process agency, bonded warehousing, container yards, inland ports and sea-rail intermodal transport, trade finance, logistics solution design, and supporting services, committed to building a first-class integrated supply chain service provider; the latter is mainly engaged in the loading, unloading, storage, road transportation, and cargo transportation agency of containers and dry bulk cargo such as coal, ore, and bauxite.