COSCO Shipping Ports sells several terminal stakes to SIPG
COSCO Shipping Ports (CSP) has agreed to sell its stakes in three Chinese terminals to Shanghai International Port Group (SIPG) for a combined RMB1.0bn (US$150m).
The operator is selling its interests in Nanjing Longtan Terminal, Yangzhou Yuanyang Terminal and Zhangjiagang Terminal while also announcing that it intends to sell interests in Taicang International Container Terminal and Jiangsu Petrochemical Terminal.
The company noted that it intends to build a global terminal network with controlling stakes and it believes the sales could improve the overall quality of its Yangtze Delta terminal portfolio.
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