Shanghai Salvage Company (SSC) has won Lomar Shipping's contract to remove the wreck of Kea Trader from a rock reef in the South Pacific.
The Chinese salvor was selected after a four-month tender process, as first tipped by TradeWinds.
Lomar said SSC is "a globally recognised marine salvage and wreck removal company with over 60 years of services to the marine and offshore industry."
"With detailed methodology for the recovery operation having been approved by the authorities last month, the contract has been concluded," it added.
SSC expects to have resources on site within 30 days as it takes over from Ardent, the salvor that has been removing fuel and containers since last July.
The ship was heading from Papeete in French Polynesia to Noumea in New Caledonia, loaded with 756 container units and a further 26 flat-racks, when it ran aground.
It is now lying in two pieces on the reef.
