SHANGHAI Shipping Industry Fund, the first marine fund in China, will
make its first investment in containerships, Xinhua reports. The fund is operated by Shanghai Shipping Industry Fund Management Co Ltd, a company jointly set up by Guotai Junan Innovation Investment Co Ltd, China Shipping Investment Co Ltd, Shanghai State-owned Assets Operation Co Ltd and Hongkou State-owned Assets Operation Co Ltd.
At the end of November, China Shipping's subsidiary, China Shipping Container Lines (CSCL), announced plans to spend US$750 million on eight 10,000-TEU newbuildings. CSCL also signed a contract for four optional ships of the same kind. The total value of these ships is US$370 million.
