Sinotrans said to be mulling merger with China Changjang

Sinotrans Shipping Ltd said late Tuesday that its controlling shareholder, China National Foreign Trade Transportation Corp., or Sinotrans Group, was considering a merger with China Changjiang National Shipping Corp., Reuters reported

The Hong Kong-listed firm said Sinotrans Group, the nation's logistics giant holding 67.5 percent of Sinotrans Shipping, was in talks with China Changjiang on key aspects of the possible merger and related reorganization but it gave no further details, the report said. In May, Shanghai Securities News had reported that Sinotrans Group and China Changjiang planned to merge into China's second-largest shipping logistics firm."Sinotrans Shipping Ltd said late Tuesday that its controlling shareholder, China National Foreign Trade Transportation Corp., or Sinotrans Group, was considering a merger with China Changjiang National Shipping Corp., Reuters reported.

The Hong Kong-listed firm said Sinotrans Group, the nation's logistics giant holding 67.5 percent of Sinotrans Shipping, was in talks with China Changjiang on key aspects of the possible merger and related reorganization but it gave no further details, the report said. In May, Shanghai Securities News had reported that Sinotrans Group and China Changjiang planned to merge into China's second-largest shipping logistics firm.

Source: American Shipper