Ningxia Tianyuan to Enter Shipowning Sector, Plans to Buy 20 Bulkers

0
117

Chinese ore producer, Ningxia Tianyuan Manganese will enter shipowning sector with plans to build a fleet of at least 20 bulkers. The company plans to establish a fleet comprising of both supramax and capsize bulkers.

The company is negotiating with a couple of domestic shipyards for construction of the vessels. According to sources, Yangzijiang Shipbuilding is very close to secure a bid in this process.

Ningxia Tianyuan is one of the world’s largest processors of manganese ore, and the new owner of Western Australia manganese ore miner Consolidated Minerals (ConsMin).

It recently formed an in-house shipping unit, Tianyuan Logistics Shipping (Hong Kong) Ltd, to charter vessels transporting ore from the mine.

Tianyuan also recently reached an investment agreement with Government of Ghana to develop mining and port infrastructure in the African country.

Sea News, November 29