China Navigation Co (CNCo) will split its dry bulk shipping activities from its liner shipping and fleet management business in a move that will establish Swire Bulk as a standalone, privately held company.
The target date for the separation is January 2021, according to a statement released by CNCo on Wednesday.
Swire Bulk will continue to be headquartered in Singapore and John Swire & Sons Ltd will remain as its ultimate parent company.
