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Tianjin Marine offloaded to Hainan Airlines

Tianjin Marine offloaded to Hainan Airlines

Shanghai: Tianjin Tianhai (Group) Co., the top shareholder of Tianjin Marine Shipping Co., plans to sell all its shares in the subsidiary to China's Hainan Air (Group) Corp, the Kaiji Press reports. Tianjin Tianhai will sell the 37.37% stake (18,408,852 shares) it holds for 200m yuan within three months. Tianjin Tianhai Group has multiple shipping companies under its umbrella, including Tianjin Marine, and evolves shipping business on the Japan-China and South Korea-China routes, among others. Meanwhile, Tianjin Marine operates services on Japan-Shanghai, Japan-Dalian and other routes, but , claims the Kaiji Press, it suffers from a 'stagnant business performance'. [01/02/07]

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