Rapidly growing shipowner Shandong Shipping is quietly creating a bareboat-charter operation called Shandong Shipping Alliance alongside its direct shipowning activities as it builds up its fleet and book of contracts of affreightment (COAs) for a planned 2015 foreign stocklisting.
The alliance has come to light following Shandong’s controversial five-year chartering and cargo contract with Brazilian miner and shipowner Vale, said to be worth over $500m.
Although
