Huaxing Shipping is born, a new company between Hong Kong and mainland China to develop a fleet of 64,500 dwt Ultramax vessels and promote the ecological transition in bulk shipping
Hong Kong – The Hong Kong-based shipowner Wah Kwong has announced the creation of a joint venture with Wuhu Shipyard and Yingxing Leasing, giving life to the new entity Huaxing Shipping. The project debuts with an initial order for 12 64,500 dwt Ultramax vessels at the Wuhu shipyards, the largest shipbuilder in Anhui province.
According to a joint note from the three companies, the agreement represents a strategic step that strengthens the synergy between Chinese manufacturing industry and maritime finance, and aims to lead the next generation of low-carbon emission fleets.
The collaboration was born following a strategic agreement signed by Wah Kwong in July with Wuhu and its affiliates, including Yingxing Leasing and the Anhui Haizhi Equipment Research Institute, which led, already in August, to a first order for four Ultramax vessels.
Under the leadership of Hing Chao, Wah Kwong is implementing a diversification policy through innovative joint ventures. Among the most recent, the one with NatPower Marine for the development of shore-based electric charging and power infrastructure across Asia, and the collaboration with CIMC ENRIC, a Chinese clean energy manufacturer, for the supply of green methanol bunkering solutions in the Greater Bay Area and other Asian hubs.
With Huaxing Shipping, Wah Kwong consolidates its commitment towards a modern, sustainable fleet oriented towards Hong Kong-China cooperation, in line with global objectives for decarbonizing maritime transport.
