Shanghai: Sinotrans&CSC China Changjiang National Shipping Group is to transfer its 10% equity of Maanshan Port for RMB60m.
It is the second time that this state-owned shipping company has transferred port equity, and the price is RMB2m lower than the first time.
Maanshan port is currently controlled by Maanshan Steel (45%), Anhui Pubang Assets Operation (40%), China Changjiang National Shipping (10%) and Anhui Changjiang Technology (5%).
China Changjiang National Shipping has been under an integration progress with another state-owned shipping company, Sinotrans, for several years. The consolidated group Sinotrans&CSC has reported over RMB10bn in losses last year. [25/02/14]