Shenzhen Chiwan ends port acquisition plans

Shenzhen Chiwan ends port acquisition plans

Shenzhen Chiwan Wharf Holdings, the operator of Shenzhen Chiwan Port, has announced that it has decided to terminate a restructuring plan involving the acquisition of China Merchants Holdings International’s port assets in Shenzhen.

The company said the plan was terminated as it couldn’t reach an agreement with some shareholders of the assets. Shenzhen Chiwan had been working on the deal since May, and stock trading of the company will resumed on October 20.

Additionally, Shenzhen Chiwan has reported a net profit of RMB242m ($38m) for the first half of this year, up 2.82% year-on-year.

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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