U-Ming Marine Transport is partnering a Chinese state-owned company in a groundbreaking venture by a Taiwanese shipowner into domestic shipping across the strait.
Company spokesman Stephen Chen told TradeWinds that Taipei-listed U-Ming will be the junior partner in ITG U Ming (Xiamen), a 51:49 dry bulk shipping joint venture with trading conglomerate Xiamen ITG Group.
The chairman and executive officers of the joint venture will all come from the mainland side and the company will be based in the city of Xiamen in the south-eastern Chinese province of Fujian.
