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SIPG mulls Jinjiang Shipping acquisition

SIPG mulls Jinjiang Shipping acquisition

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Shanghai: Shanghai International Port Group (SIPG) has announced that it is currently considering acquiring part of the equity stakes in Shanghai Jinjiang Shipping, a container shipping company mainly engaged in China-Japan routes, as part of the group’s overall development strategy.

SIPG plans to start due diligence work soon.

Jinjiang Shipping is controlled by Shanghai State-owned Assets Supervision & Administration Commission (Shanghai SASAC), which holds 35.2% of the equity shares. Another three major shareholders of Jinjiang Shipping are subsidiaries of China Shipping Group, Sinotrans & CSC and China Merchants International.

SIPG already has a shipping line called Shanghai Hai Hua Shipping, which operates 17 vessels with total capacity of 11,000 teu.

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Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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