Merger of small Chinese shipping lines likely
Wuhan-based Yangtze River Shipping and logistics giant Sinotrans Group’s shipping arm Sinolines are on the verge of merging, Cargonews Asia reported Monday.
The merger would link two of China's smaller state-owned shipping companies. The news outlet reported that Yangtze River Shipping accounts for 30 percent of the total volume transported on China's biggest river. The report also said Sinolines would transfer its bulk and other cargo activities to Yangtze, while Yangtze will transfer its container transport to Sinolines, which specializes in container cargo.
The merger would go through if approved by China's State Assets Supervision and Administration Commission, but that clearance is expected to happen this year, Cargonews reported.