Singapore's Kenny Cai has converted a heavylift rival into a teammate after forging a partnership with China’s Shanghai Zhenhua Heavy Industries (ZPMC).
ZPMC is acquiring 50% of Greenland Heavylift (Hong Kong), a subsidiary of Cai’s GPO Heavylift that owns four newbuildings, and has an option to increase its stake by 1%.
Cai called it “a welcome move, as it means one less rival”.
