On 29 June 2022, the ceremony for the naming and delivery of CULINES container newbuilding - CUL YANGPU & the signing of the strategic cooperation memorandum on Shipping Industry Fund was held at Huangpu Wenchong Shipbuilding in Nansha, Guangzhou, China.
Huiming Xiang (Chairman at Huangpu Wenchong Shipbuilding), Kevin Ding (EVP at CULIES), Huiyu Wu (Part Committee Secretary & Chairman at Hainan Financial Holdings), and Jianmin Wang (Port & Shipping COO, Administration Committee of Yangpu Economic Development Zone) attended the ceremony and delivered speeches. Aiqing WU, on behalf of the Administration Committee of Yangpu Economic Development Zone and as the godmother, christened CUL YANGPU and cut the rope.
Naming of the newbuild - CUL YANGPU
Peng Huang (Chief Engineer of Department of Transportation, Hainan Province), Qiang Wang (Deputy Division Director of Hainan Financial Regulatory Bureau), Jinning Shao (Director of Bureau of Transportation, Ports, and Shipping of Yangpu Economic Development Zone), Xipeng Zhang (Level II Bureau Rank Official of Hainan Marine Safety Administration), Xiaoming Song (DGM of Guangzhou Port Group), Lingtang Zheng (DGM of Guangzhou Port Company Limited), Liwei Zhou (DGM of China Classification Society Guangzhou), and other customers and partners of CULINES totaling more than 100 attended the ceremony.
CULINES was founded in September 2005 in Yangpu. For the past 17 years, CULINES has been deep-rooted in Hainan. Naming the newly delivered vessel as CUL YANGPU is a move of CULINES to express the gratitude to Hainan, reward the Yangpu Economic Development Zone, promote the Danzhou-Yangpu integrated development, and support the development of Hainan Free Trade Port.
CUL YANGPU - first container vessel named after Yangpu
CUL YANGPU is also the first foreign-trade container vessel named after Yangpu, bringing Yangpu a moving name card on the sea. CUL YANGPU is the sister of CUL NANSHA, which was delivered last month. She’s the latest-design 1,930 TEU Bangkok-Max container vessel of Huangpu Wenchong and the second of the four newbuilds on the order-book with Huangpu Wenchong.
After delivery, CUL YANGPU will phase in the South China-Thailand SCT service, of which the rotation is Nansha/Shekou/Laem Chabang/Bangkok/Laem Chabang/Nansha. The transit time is 14 days with weekly departure.
Strategic cooperation memorandum on shipping industry fund
On the same day, CULINES signed a strategic cooperation memorandum on shipping industry fund with the state-owned financial platform - Hainan Financial Holdings. This is a fine example of close cooperation between Hainan local enterprises for the development of Hainan Free Trade Port, the stability of supply chain, and the development of shipping logistics.
According to the memorandum, both parties would, in the principle of common development, complementary advantages, shared resources, win-win results and through financial-industrial integration, give full play to their strength in funding sources, project resources, policy support, and industrial expertise for investment cooperation in shipping, land logistics and warehousing, offshore trade, and offshore finance, so as to effectively integrate the logistics industry, increase the base volume of business, attract more industrial resources to Hainan.
Also, both parties aim to make the most of the non-governmental funds to develop the Hainan Free Trade Port and seize new opportunities of Hainan for mutually beneficial development.
Hainan Financial Holdings
Founded on 12 May 2016, Hainan Financial Holdings is the only province-level financial platform approved by the Hainan Government. Hainan Development Holdings, a state-owned financial holding company, is the main initiator of this platform.
With a registered capital of CNY 1 billion (CNY 600 million from Hainan Development Holdings, CNY 200 million from Hainan Province Transport Investment Holding, CNY 200 million from Hainan Laocheng Economic Development Zone), this platform mainly invests in banks, securities, insurance, trusts, funds, asset management, financial leasing, enterprise information services, and financial guarantee and re-guarantee.
Hainan Financial Holdings also provides services, such as financial operation, investing, financing, financial research, and restructuring and M&A consulting.
