China Shipping, “K” Line form ro-ro joint venture

China Shipping, “K” Line form ro-ro joint venture

China Shipping, “K” Line form ro-ro joint venture

   China Shipping Group and Kawasaki Kisen Kaisha Ltd. have formed a the roll-on/roll-off joint venture based in China.

   The two Asian shipping groups signed the cooperation contracts on Wednesday (Nov. 25), giving China Shipping 51 percent of the joint venture and “K” Line 49 percent, with a joint registered capital of $10 million.

   “K” Line is “trying to provide new ro-ro service in Chinese coastal areas,” China Shipping said in a statement.

   “The joint venture company established by the two parties based on the spirit of equal partnership and reciprocity will be registered in Shanghai and aims to start conducting domestic and international ro-ro vessels transportation business in the first half of 2004,” said China Shipping.