milkyway chemical supply chain co., ltd. recently acquired 80% of the equity of zhoushan zhonggu shipping co., ltd., and formally entered the bulk liquid chemicals shipping market.
with large domestic crackers and downstream projects successively going into production, the volume of liquid chemicals coastal shipping transportation is increasing. meanwhile, the international market is also growing with huge potential due to the fluctuation of chemical production capacity in europe and america. in view of the customer focus and agile response to the market demand, milkyway chemical supply chain co., ltd. recently acquired 80% of the equity of zhoushan zhonggu shipping co., ltd., and formally entered the bulk liquid chemicals shipping market.
zhoushan zhonggu shipping has the waterway transportation permit, operates four 4000dwt stainless steel chemical parcel tankers, and is equipped with a professional full-time marine and mechanical management team. zhonggu has been providing domestic coastal shipping services for many chemical enterprises, and 80% income is from coa contracts. it has been recognized by customers in terms of safety and quality management and has stable income and profitability.
while continuously developing the domestic warehouse-distribution integration and the international sea, land, air, and rail freight forwarding business, milkyway starts the shipping business for commodities and chemicals, and enhances the service capacity of the one-stop supply chain from the raw material to the finished product, covering from 1 kg to thousands of tons of orders. in the future, milkyway will keep empowering the business and expanding the transport capacity, by investing in new ships, leasing, and snp, serving southeast and northeast asia.
jeff wang, vice president of the group, said that milkyway shipping will continuously strengthen the foundation of "asset agility, ship management expertise, digital operations", focus on asia and forwarding worldwide. we will rapidly expand our tankers fleet, build our talent team and serve our customers. he also concluded that the exciting shipbuilding plan would be announced by the end of next year.