Shanghai-listed SIPG will continue with its further study on the acquisition plan on Shanghai Jinjiang Shipping, and the investment amount and percentage of ownership are yet to be specified.
Shanghai Jinjiang Shipping, established in 1983, is a short-sea container vessel operator with services mainly along China’s coastline and the Taiwan Strait.
In 2013, the container vessel operator posted a net profit of RMB75.64m and a revenue of RMB1.56bn.
On the short-sea container shipping sector, SIPG owns Shanghai Haihua Shipping Co (Hasco), which provides container transport from China to Japan and Southeast Asia.
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