News / Cosco and SIPG invest in SAIC Anji Logistics as it boosts PCTC fleet

Cosco Shipping Holdings and Shanghai International Port Group (SIPG) have invested ¥2bn ($280m) in SAIC Anji Logistics, the shipping subsidiary of compatriot state-owned car maker SAIC Motor, as Chinese shipping companies continue to expand in the vehicle carrier segment.

The investment, equally divided between Cosco and SIPG, gives each a 10% stake in SAIC Anji, whose share capital will increase to ¥750m ($103m), from ¥600m ($82m).

The company is building a fleet of 14 pure car ...