Sinotrans Shipping proposes delisting

Sinotrans Shipping proposes delisting

Sinotrans Shipping, a shipping subsidiary of Chinese state-run shipping and logistics major Sinotrans & CSC Holdings, has proposed to withdraw its stock listing from Hong Kong Stock Exchange as part of a privatisation plan.

The company suspended stock trading from September 18, which is related to the possible privatisation of the company.

Sinotrans Shipping will submit the scheme document for the privatisation no later than November 20, extended from an earlier announced date of October 18.

Sinotrans Shipping currently operates a fleet of 58 vessels, made up of 41 bulkers, 13 containerships and four tankers.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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