Chinese entrepreneur Ren Yuanlin, founder of Yangzijiang Shipbuilding Group, is making a major move beyond the shipbuilding industry — acquiring control of the world’s largest supplier of anode materials for lithium batteries.

A consortium of investors led by Ren is purchasing a 23.3% controlling stake in Shanshan Corp for 3.2 billion yuan ($450 million). The deal comes amid a court-supervised restructuring of Shanshan Group, which is facing a debt crisis.

Shanshan Corp holds 21% of the global market for lithium battery anode materials and 30% in display polarization films, making it a critical player in the global battery and electronics supply chain.

The acquisition marks a strategic shift for Ren Yuanlin — from shipbuilding to new energy technologies, as China continues to strengthen its leadership in the renewable energy and advanced materials sectors.

Yangzijiang Shipbuilding Group Ltd., founded in 1956 as Jiangyin Shipbuilding Factory and privatized in 1999 under Ren Yuanlin’s leadership, is China’s largest private shipbuilder. The company specializes in the construction of bulk carriers, container ships, and gas carriers and has been listed on the Singapore Exchange (SGX) since 2007.

A Dutch-flagged cargo vessel, Minervagrach, caught fire and was abandoned in the Gulf of Aden after a suspected missile attack — the first reported Houthi strike on a commercial ship in the area in nearly 14 months.

The 12,200 dwt ship, en route from Djibouti to Mumbai, was hit approximately 128 nautical miles southeast of Aden, Yemen. Operator Spliethoff confirmed that all 19 crew members — from Russia, Ukraine, the Philippines, and Sri Lanka — were evacuated by helicopter. Two sailors sustained serious injuries, according to the EU naval mission Aspides.

This incident marks the second time in a week that Minervagrach has come under suspected fire, after a near-miss was reported on September 23. The vessel is now drifting and considered a hazard to navigation.

While the ship reportedly has no ties to Israel, the Houthis have resumed attacks on merchant shipping since July, previously sinking two bulk carriers in the Red Sea. Naval forces warn of escalating risks for vessels transiting the region.

On September 22, 2025, the containership Istanbul Bridge (capacity 4,890TEU) of Sea Legend Line departed from Ningbo-Zhoushan, marking the launch ofthe first express service between China and Europe via the Northern Sea Route.The vessel will call at Felixstowe (UK), Rotterdam (Netherlands), Hamburg(Germany), and Gdańsk (Poland). According to the company, the voyage will takeonly 18 days — making it the first true express container line linking Chinaand Europe through the Arctic. The service is carrying consumer goods,clothing, and components, with plans to expand the ice-class fleet andeventually ensure year-round navigation. The project is significant because itreduces transit time compared to the Suez Canal, opening new opportunities forfaster trade between China and Europe. However, full-year operation of theNorthern Sea Route will require major investments in ice-class vessels.

The Houthis are stepping up activity in the Red Sea, targeting both Israel and shipping linked to it. On September 4, UK Maritime Trade Operations reported suspicious activity after a vessel in the Red Sea was hit by an “unknown projectile” at a distance. The ship was unharmed but also reported severe electronic interference. This marks the 30th maritime incident of 2025, following a lull after July’s sinking of two bulk carriers. Recent weeks have seen more missile and drone claims by the Houthis, including against tankers and containerships, though several reports remain unconfirmed. At the same time, vessel traffic in the Red Sea has reached its highest level since January 2024, with LPG and bulk carriers increasing transits, while most container lines continue to reroute around Africa. Analysts warn the Houthis may be extending their reach further north, closer to Saudi Arabia, raising regional security concerns. Meanwhile, Israel has vowed stronger responses after intercepting multiple recent launches and striking back against Houthi leadership.

On July 31, 2025, the United States imposed its largest package of sanctions to date against Iran, which also affected some vessels operating on international routes. Part of the fleet of the Chinese shipping company VUXX Shipping, including several container ships serving foreign trade routes to Russia, has come under these restrictions.

The sanctions list includes 15 container ships operated by Marvise SMC DMCC and 7 container ships operated by REEL Shipping L.L.C. Until October 1, 2025, only a limited range of operations is allowed with these vessels: safe berthing, anchorage, and departure from ports (excluding ports in Iran, Russia, or under their control), ensuring crew health and safety, emergency repairs, environmental measures, unloading of cargo loaded before July 30, 2025, as well as services such as vessel management, insurance, and bunkering. New commercial contracts with blocked persons and any operations not specified in the license, including transactions with Iranian or Russian organizations, are prohibited.

Some VUXX Shipping vessels affected by the restrictions will be replaced by other ships. The company is preparing operational solutions to avoid disruptions in container deliveries to customers. Checks of all voyages and schedules are already underway to minimize delays and reassign cargo to alternative vessels.

The sanctions have had a significant impact on the carrier’s operations: VUXX Shipping has had to give up chartering 16 vessels, reducing its operating capacity and causing a drop in its global ranking among container operators by fleet capacity. Industry experts expect temporary instability in shipping schedules, especially on routes linked to Russia, in the near future.