Independent journal on economy and transport policy
01:27 GMT+2
China Shipping unit doubles fleet
(South China Morning Post)
April 5, 2001
ACQUISITIONS H share takes 20 tankers from parent
Winston Yau
China Shipping Development (CSD) is to pay 1.04 billion yuan (about HK$974 million) to buy 20 oil tankers from its parent China Shipping (Group) to more than double its existing fleet.
The acquisition is to be funded by a proposed A-share issue.
H share CSD said the acquisition would help it to capitalise on growing demand for oil shipping services. ...... Read more on South China Morning Post
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