ContainersFinance and InsuranceGreater ChinaPorts and Logistics

SIPG to spin off shortsea container shipping unit

Shanghai International Port Group (SIPG) intends to spin off and list its shortsea container shipping subsidiary Jin Jiang Shipping.

The board of directors of SIPG has authorised the company and the management of Jin Jiang Shipping to start the preliminary preparations for the spin-off.

The spin-off will not cause the company to lose control over Jin Jiang Shipping, nor will it affect other businesses of the company, SIPG said in a regulatory filing with the Shanghai Exchange.

Established in 1983, Shanghai Jin Jiang Shipping has a fleet of 38 containerships, of which 29 are owned. According to data from Alphaliner, the company has a carrying capacity of around 34,000 teu and four ships on order, totalling 7,600 teu.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
Back to top button