Cosco Shipping Specialized Carriers has joined forces with SAIC Anji Logistics and Shanghai International Port Group’s SIPG Logistics to create a car carrier company.
In a regulatory filing, the Shanghai-listed company said the registered capital for the joint venture is CNY650m ($96m).
Cosco will have 42.5% ownership, SPIG Logistics 37.5% and SAIC Anji — the shipping arm of Chinese automaker SAIC Motor — 20%.
