Oceanus and Shaoxing partners ink $37.2m deal to expand wine trade

Aside from wine, consumer goods like frozen meat will also be covered.

Oceanus Group has entered a $37.2m investment intention agreement with Shaoxing Huangjiu Town (Dongpu) Development and Construction Management Committee for the mutual cross-border trade of food, wine and other consumer goods.

The committee is with the Agriculture, Rural and Water Resources Bureau of the Yuecheng District, which is part of Shaoxing, known to be the birthplace of yellow wine.

The Huangjiu Town Wine Trade and Supply Chain Centre will serve as a trade and supply chain hub for consumer goods such as alcoholic beverages, drinks, and frozen meat.

Oceanus’ subsidiary Seasons Global Trading Pte. Ltd. will facilitate the export of the Chinese yellow wine culture and local products. The group will also work on the marketing of various international fine wine brands into the Chinese market to establish Shaoxing as the destination for wine trade. 

This is in line with the government’s goal to make Yuecheng District a world wine town through the partnership.

Under the agreement, the Chinese partner will list the development as a key investment attraction project from 1 June 2024 to 31 May 2025, with the committee providing one-stop and all-inclusive services, including preferential policies for warehouses and logistics. 

Oceanus will also look into possibly a new company registered in Yuecheng District to carry out project operations to accelerate development and implementation.

“This latest partnership represents a significant milestone for us and we are excited to support Shaoxing’s development of Shaoxiang (Dongpu) Huangjiu Town into an iconic province and key investment attraction promoting the region’s renowned wine brands to ASEAN,” Oceanus CEO Peter Koh said.

He also said this agreement will “further strengthen economic and trade relations between Shaoxing, China and Singapore, including the cross-promotion of goods within Asia Pacific.”