Sinotrans Shipping eyes new sectors

Sinotrans Shipping eyes new sectors

Hong Kong-listed Sinotrans Shipping is considering diversifying its shipping business, Li Zhen, president of the company said in a press conference.

According to Li, the company is planning to move into new businesses including car carriers and breakbulk shipping. He revealed that the parent group Sinotrans & CSC will establish a new management entity in September and gradually inject more major assets into Sinotrans Shipping, which will remain the main ship operating platform of the group.

Sinotrans Shipping disposed of 15 aged vessels in the first half of 2015, while also reporting a net loss of $18.28m in the first half of 2015, down from a $2.3m profit in the same period of 2014.

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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