Rizhao-based Landbridge Group, a diversified multinational group specialising in port infrastructure, logistics, oil and gas, shipping and petrochemical industries, is looking to list one of its port assets.
Landbridge plans to list the terminal it operates at Rizhao Port, which handled 80m tons of cargo in 2018 and has a target to increase the annual cargo throughput to over 100m tons by the end of 2019. The company has already formed a IPO preparation team to work on the listing and has started preliminary evaluations of the terminal.
Landbridge also operates the Port of Darwin in Australia, and it is constructing one of the largest ports in Panama called Isla Margarita Port. Landbridge Ship Management, the shipowning unit of Landbridge, owns a fleet of VLCC tankers. Four VLCCs are in water now and another two are set to be delivered by Dalian Shipbuilding Industry Co this year.