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Recently, in the Jiangsu Province Ship Leasing Trading Zone located in Jiangbei New District, an exciting piece of news was announced –
The wholly-owned subsidiary of Yangzi Guotou, namely Nanjing Ship Trading Management and Service Co., Ltd. (hereinafter referred to as “Ship Company”), successfully auctioned three vessels, namely “Su Haishun 010”, “Su Jiaochun 01082” and “Su Jiaochun 0109”, in an online auction platform for vessels of its own. The total number of vessels involved in this auction was three batches.
This is the “re-launch debut” of the online auction business of the shipping company after a four-year suspension. With a total premium rate of 44%, it has successfully achieved the preservation and appreciation of state-owned assets for the client. This not only demonstrates the high recognition of the trading model by the market, but also indicates that the construction of the shipping leasing transaction zone in Jiangsu Province is accelerating at a faster pace.
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The owner of this online auction item is the Nanjing Transportation Comprehensive Law Enforcement Corps. The auction was conducted through an online platform and attracted several interested buyers. After multiple rounds of bidding, the item was successfully sold, with a total premium rate of 44%.
“This auction is the first restart of our online business since it was suspended in 2021. The entire process was smooth and successful. It not only achieved the preservation and appreciation of the state-owned assets of the client, but also laid the foundation for the subsequent regular conduct of the auction business.” said Liu Wei, the business director of the ship company.
This established service agency, founded in 2011 and approved by the Ministry of Transport, was once among the 17 national ship trading service institutions. Since its establishment, it has provided services for over 7,000 ships and achieved transaction volumes exceeding 10 billion yuan. In recent years, the company’s business has experienced a period of stagnation.
Since the establishment of the new district development last year, the company’s operation has gradually improved and the overall transaction volume has rapidly recovered. “We are not just a simple auction platform,” Liu Wei explained. The company integrates multiple functions such as ship trading management and operation, auction services, registration代办， assessment and inspection， cost consulting， and technical services. It is a key hub for the allocation of regional shipping resources.
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The modern shipping service industry is an important component in the process of accelerating the construction of a transportation power and a maritime power. Jiangsu is an important base for shipping and shipbuilding industries in China. However, the province has long faced a structural deficiency of “strong shipbuilding but weak trading”.
At the beginning of last year, the provincial Party committee and the provincial government issued the “Opinions on Supporting the High-Quality Construction of Nanjing Jiangbei New Area”, providing a new opportunity to solve this problem. It clearly required leveraging the “dual-advantage” of Jiangbei New Area, strengthening financial support for industrial development, “actively developing shipping finance, guiding shipping enterprises, financing companies, etc. to settle in, and exploring the establishment of the provincial ship leasing trading zone.”
Subsequently, in May last year, as the leading unit of the provincial special working group for the ship leasing trading zone, Yangzi Investment Group quickly advanced the relevant work and, in collaboration with the New District Construction and Transportation Bureau, organized an expert argumentation meeting for the “Construction Plan of the Jiangsu Province Ship Leasing Trading Zone”, promoting the planning and construction of the trading zone.
At present, apart from the formulation and argumentation of the plan, the group has completed key tasks such as the acquisition of core platform companies, the renovation of the trading area, and the drafting of shipping support policies for the area. It has successfully attracted many shipping enterprises to settle down. With the support of multiple units including the Provincial Finance Office, the Provincial Transportation Department, the Municipal Transportation Bureau, Jiangsu Maritime Safety Administration, Nanjing Maritime Safety Administration, Nanjing Maritime Court, and Nanjing Arbitration Commission, it is continuously gathering high-quality service resources in maritime affairs, legal affairs, and finance. A gradually improving shipping industry ecosystem chain is taking shape here.
“We are currently focusing on building a business ecosystem featuring ‘one platform, one core, and five services’.” A relevant official from Yangzi Investment Group stated that in order to further expand and strengthen the Jiangsu Province Ship Trading Market, the group is actively constructing a comprehensive service system that integrates “transaction services, financial empowerment, and technical support”, continuously enhancing the coverage and added value of services.
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A favorable “ecosystem” attracts high-quality projects. In the past, the provincial shipping finance industry mainly relied on traditional credit. The proportions of new businesses such as financing lease, equity financing, and shipping insurance were low, making it difficult to meet the diversified financial needs of port and shipping enterprises. However, this situation is now changing.
“As the transaction volume of ships continues to increase, we will also consider establishing a ship leasing SPV company (an offshoot company set up by a financing company to provide financing services for large equipment such as ships and aircraft) in the new area to carry out ship financing business,” said a relevant official from CITIC Finance Leasing. Currently, many financial institutions are highly optimistic about the development prospects of the new area’s ship trading market.
It is worth noting that key reform measures for optimizing services, such as “supporting the innovation of vessel registration system, promoting the complementary reform of vessel classification system, and improving the efficiency of vessel registration”, have been included in the “Regulations of Nanjing Jiangbei New District” (draft for public consultation). These institutional innovations will provide strong impetus for the development of the trading zone.
In the future, the Jiangsu Province Ship Leasing Trading Zone will establish a full-element and full-chain industrial cluster centered on ship leasing and ship ownership transactions, with shipping finance, ship brokerage, inspection and evaluation, maritime registration, legal arbitration and other services serving as the transaction support. It will accelerate the cultivation and development of new quality productive forces in the shipping industry.
“We will focus on the green, digital and intelligent transformation of shipping enterprises, and work together with ‘Aerial Gaode’ to establish a new model of ‘low-altitude + ship leasing’. We will actively develop demonstration application scenarios such as ship technical condition assessment, rapid on-water emergency investigation, and waterborne material delivery, and strive to open up a new path of ‘ascending to the sky and entering the water’. We will continuously assist the new area in building a new highland for international hub construction.” A relevant official from Yangzi Investment Group said.
