SIPG mulls Jinjiang Shipping acquisition

SIPG mulls Jinjiang Shipping acquisition

Shanghai: Shanghai International Port Group (SIPG) has announced that it is currently considering acquiring part of the equity stakes in Shanghai Jinjiang Shipping, a container shipping company mainly engaged in China-Japan routes, as part of the group’s overall development strategy.

SIPG plans to start due diligence work soon.

Jinjiang Shipping is controlled by Shanghai State-owned Assets Supervision & Administration Commission (Shanghai SASAC), which holds 35.2% of the equity shares. Another three major shareholders of Jinjiang Shipping are subsidiaries of China Shipping Group, Sinotrans & CSC and China Merchants International.

SIPG already has a shipping line called Shanghai Hai Hua Shipping, which operates 17 vessels with total capacity of 11,000 teu.

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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