On December 3, Xingtong Marine Shipping Co., Ltd. (hereinafter referred to as “Xingtong Shares”) and Shanghai Xingyang Shipping Service Co., Ltd. (hereinafter referred to as “Xingyang Shipping”) formally signed a joint venture agreement, intending to jointly invest in establishing a crew management limited company. This cooperation is a significant initiative for both parties to integrate core strengths and synergize efforts. It will not only solidify the talent foundation for Xingtong Shares’ global development but also set a new benchmark for the standardization and professionalization of crew teams in the chemical shipping industry.
As a leader in the coastal bulk liquid chemical shipping sector, Xingtong Shares has always adhered to the development philosophy of “Prospering from the Sea, Strengthening the Nation through Industry,” deeply cultivating its main business while continuously expanding its operational boundaries. The company’s current fleet totals 49 vessels (including those under construction), with a total carrying capacity of 670,000 deadweight tons. According to the development plan, by 2027, the company will also have at least 10 new stainless steel chemical tankers, with a combined capacity of approximately 190,000 deadweight tons, entering operation. The rapid growth of the fleet scale and the high-end, international route layout impose higher and more urgent demands on the professional quality, stability, and cross-cultural management capabilities of the company’s crew teams. Building a self-controlled, high-quality crew supply system has become a crucial link in the company’s strategic development. The establishment of this joint venture crew management company is a forward-looking strategic move by Xingtong Shares based on long-term considerations, offering multiple core benefits for the company’s development, with its cooperative value and strategic significance being particularly prominent.
The joint venture company will be developed in phases. Initially, it will establish a core crew team and a digital management platform compatible with the newly added shipping capacity. In the medium term, it will form a mature management system covering both domestic and international trade fleets and expand overseas talent channels. In the long term, it aims to build a first-class crew service brand in the industry.
The joint venture company will deeply integrate Xingtong Shares’ profound operational foundation, comprehensive safety management system, and top-tier customer resources accumulated in the hazardous chemical transportation field, with Xingyang Shipping’s professional training system and global network in international crew dispatch. This will significantly enhance the efficiency of the company’s core resource allocation and solidify long-term competitive barriers.
A high-quality, multi-skilled crew team is the core guarantee for the safe operation of hazardous chemical shipping. Professional crews will further strengthen the safety management system. Simultaneously, their multi-nationality crew reserves and cross-cultural management capabilities will provide critical support for the company’s expansion into international high-end routes, accelerating the implementation of its global business footprint.
In terms of the industry and strategic significance of the cooperation, the joint venture company is positioned with the core goal of “building a high-quality crew supply center that is leading in China, internationally recognized, and specialized for chemical tanker fleets.” Xingtong Shares is full of confidence in this cooperation and the future development of the joint venture company. It will continue to inject high-quality resources into this strategic platform and provide comprehensive strategic synergy and support. This investment in establishing a crew management company supports the company’s development strategy, holds profound and positive significance for enhancing core competitiveness and ensuring long-term stable development, and will also become an important milestone for the company in practicing its philosophy of safe development and excellent operation.
It is understood that Shanghai Xingyang Shipping Service Co., Ltd. is a specialized company with independent legal personality, primarily engaged in the training and management of tanker and chemical tanker crews. Founded in 1998, it was among the first batch of seafarer dispatch service agencies approved by the Maritime Safety Administration of the Ministry of Transport.
Xingyang Shipping’s main business is the crewing of tankers and chemical tankers, involving crew recruitment, training, dispatch, and management. The company focuses on providing complete crew sets for tankers and chemical tankers, aiming to increase the share and influence of Chinese seafarers in the international high-end tanker and chemical transportation market. After 27 years of experience, Xingyang Shipping has garnered significant attention in the industry. Over time, it has gained recognition from shipowners, ship managers, and seafarers in the same industry. It has received commendation from the Maritime Safety Administration of the Ministry of Transport for “gaining recognition in the high-end shipping market through crew dispatch in the specialized field of oil and chemical tankers.
