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Grand China Shipping established

By Ju Chuanjiang and Li Jiaxia (China Daily Shandong Bureau)
Updated: 2009-06-09 16:36

YANTAI: Grand China Shipping (Yantai) Co Ltd, co-invested by Grand China Logistics Group, which is owned by HNA Group, and Shandong Longkou Port Group was established in Yantai on June 8.

The establishment indicates that HNA Group has made an important step in its transportation system towards the integration of land, sea and air.

This corporation will operate a China-Japan container liner service and also provide transfer and through transport services for customers from home and abroad.

In order to form an important enterprise engaging in the container liner service within three or five years, the corporation plans to mainly develop the courses between China, Japan and Korea, the domestic trade along China's coast and the Yangtze River waterway, and the South East Asia route in the near future, according to Li Qing, the chairman of Grand China Logistics Group.

Grand China Logistics Group is an integrated logistics corporation of land, sea and air, formed by the HNA Group in March this year. It owns several companies, involving sea transportation, air cargo, logistics, port and vessel management.

"The reason why HNA Group selected Yantai as the place to set up this corporation is that Yantai has economic competitive advantages in the Bohai Bay Rim area, there are many ports around Bohai Bay and Shandong Peninsula has huge development potentiality in the future," Gao Ronghai, the Deputy Chief Executive Officer of HNA Group said.

With total assets over 90 billion yuan and the annual income about 30 billion yuan, HNA Group has made the air tourist industry, the modern logistics and the modern financial services industry as the three main pillar industries for their future development.