G Sinochem marching towards upstream logistics

Recently, Shanghai Sinochem-Stolt Shipping Co., Ltd. was inaugurated in Shanghai. Sinochem-Stolt's founding was approved by the Ministry of Communication. The company went through the Ministry's tendering process and finally won the franchise. Sinochem-Stolt is established through joint investment of HaiNan Sinochem Shipment Co., Ltd., the subsidiary of G Sinochem (600500) and Stolt, with HaiNan Sinochem owning 51% of the equity.

According to relevant directors of Sinochem International, Sinochem-Stolt's founding does not only indicates a firm step Sinochem International took towards the chemicals logistics, but also signifies the development of Chinese chemicals water transportation on the road of specialization of fleets, intensification of operation and standardization of shipping and, the hiking up of the industrial level.

It is reported that, HaiNan Sinochem Shipment Co., Ltd. is mainly engaged in liquid chemical products' cargo transportation along marine and river transportation routes both globally and domestically. Its business scope also covers ship management and proxy-protection. The company now has 16 ships for liquid chemical products' transportation; the annual shipping volume has surpassed 1.5 million tons. There are another 12 new high-standard liquid chemical transportation ships under construction, which will be finished successively according to the date when various domestic chemical enterprises met their aim of production in the next three years. On the other side, Stolt Transportation Group is dual-listed in Oslo and Nasdaq. As the world's largest transporter of chemicals and other special liquids, it enjoys the leading technology and dominant market share. Its inland river transportation strictly follows the QHSE quality benchmark and wins the acknowledgement from BASF, Shell and other global chemical giants.

From:Security Times 2005-09-26