Seatrade-Maritime: Guohang Ocean Shipping enters tanker shipping sector

Published by Seatrade-Maritime

Fujian Guohang Ocean Shipping is shifting its development focus from pure dry bulk shipping to a more diversified operation featuring integrated oil tanker and dry bulk businesses.

In a significant capital market strategy adjustment, the company has officially terminated its planned Mainboard H-share listing in Hong Kong and opted for a private placement of A-shares targeting specific institutional investors to support its strategic development.

The company has disclosed full details of its revised fundraising plan, with the total proceeds from the A-share private placement capped at RMB700 million. Out of the total fundraising amount, RMB680 million will be injected into a high-end vessel construction project with a total investment of approximately RMB 2.491 billion, covering the construction of three 62,000 dwt multi-purpose heavy lift vessels and three 115,000 dwt LR2 product tankers.

The company signed a strategic cooperation framework agreement with Cosco Shipping Energy Transportation earlier in September, committing to deepening long-term strategic partnership and exploring joint operation for newly-built tanker vessels.

Currently, Guohang Ocean Shipping’s fleet s is dominated by Panamax and Handysize dry bulk carriers, focusing solely on conventional bulk cargo transportation.

The new shipbuilding project effectively fills the company’s market gaps in special heavy cargo logistics and petroleum product transportation, facilitating its comprehensive transformation from a pure dry bulk operator to a dual-core shipping enterprise driven by both dry bulk and tanker businesses.