JD Capital-invested Haifa Shipping Listed on NEEQ

2015-03-10

Shenzhen Haifa Shipping Co., Ltd. (Haifa Shipping, 832143), a JD Capital-invested company, was listed on the National Equities and Exchange Quotations (NEEQ) on March 10.

Established in 1996, Haifa Shipping transports refined oil products and chemicals in domestic coastal areas, the middle and lower reaches of the Yangtze River and the inland rivers of Guangdong Province. It also ships such products from ports in Guangdong, Fujian, Hainan, Shanghai, Jiangsu, Zhejiang and Guangxi to Hong Kong and Macao. The company now has 14 ships with a capacity of 58,157 tons, making it the largest private oil and chemical maritime transport enterprise in Shenzhen.

The company mainly deals in shipping business — mostly by self-owned vessels and sometimes leased vessels—and also acts as a freight forwarder as a complement. Refined oil products and chemicals transport contribute 90% of core revenue.

Haifa Shipping is engaged in the transport of refined oil products and chemicals in coastal areas and inland waterways, an important sub-sector of the shipping industry. It has a relatively stable freight rate index compared with other sub-sectors such as dry bulk cargo transportation. So far, the company has contracted quite a few long-term quality clients with great transport demand, strict voyage arrangement and stable freight rates, China National Offshore Oil Corporation (CNOOC) and Shell Petrochemical Company Limited (CSPC) included.

The fund ran by JD Capital bought shares of Haifa Shipping in 2011, and was the third largest shareholder with 16.72% of its stakes prior to the public issuance.