China's Yangzijiang Shipbuilding (YZJ) has revealed it is setting up a new joint venture with Mitsui & Co in Panama.
The pair will invest $13.2m in the company, which they will jointly own.
Details were vague, but YZJ said it wanted to draw on the "privileged access" of Mitsui to shipowners, together with its extensive experience in shipowning, chartering and sale and purchase of vessels.
