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.