Two Chinese state-owned shipping companies are shedding their stake in regional shortsea container line Shanghai Jinjiang Shipping.
China Cosco Shipping and China Merchant Shipping will sell their 20.8% equity in the Shanghai-based regional carrier in a deal valued at around RMB 581m ($87m), Alphaliner says.
Jinjiang’s majority shareholder is Shanghai International Port Group (SIPG), which holds a 79.2% equity share that was purchased in 2015.
