Jiahua Energy enters shipping with CIMC SOE newbuild
Chinese chemicals and energy group Jiahua Energy is moving into shipowning with an order for a 35,000 cu m carrier from CIMC Sinopacific Offshore & Engineering. The company has capped total investment in the vessel and pre-operating costs at CNY750m ($111m). Jiahua subsidiary Meifu Port & Storage will fund 60%, with three partners covering the …