China Shipping announces takeover price of terminals business

China Shipping announces takeover price of terminals business China Shipping Container Lines said Aug. 7 that its purchase of a 100 percent stake in China Shipping Terminal Development Co. from the Chinese government will cost $380 million, Reuters reported.
   China Shipping, one of two state-owned but independently-operated shipping lines in China, announced last month that it would take over the CSTD terminal business from the government. The business oversees 37 terminals, representing 21 million TEUs of capacity at ports in China, Southern California and Egypt.