ContainersGreater China

Ningbo Port to spin off Ningbo Ocean Shipping

China’s Ningbo Port has announced a plan to spin off its wholly-owned subsidiary Ningbo Ocean Shipping and list the company on a stock exchange.

Ningbo Port, the world’s largest port in tonnage terms, believes the spin-off will help Ningbo Ocean Shipping to expand its business with capital from the stock market.

VesselsValue data shows Ningbo Ocean Shipping currently owns a fleet of seven feedermax and sub-panamax containerships with a total capacity of 11,642 teu. The company also recently acquired the 2012-built supramax bulker Sam Lion through an auction.

The IPO preparation work is still at the preliminary stage.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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