China Shipping Tanker moves for stake in Shanghai Beihai Shipping

Shanghai: China Shipping Development (CSD) announced that its fully controlled subsidiary China Shipping Tanker will take part in the bidding for 20% equity of Shanghai Beihai Shipping. The starting price in the bidding is RMB830m.

In the meantime, China Shipping Tanker will order two 65,000dwt oil tankers with one option at a domestic shipyard. CSD said the official agreement will be signed soon. [11/06/14]

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