CSCL to buy terminal operator from parent for $380m

China Shipping Container Lines (CSCL), the country's largest container shipper by capacity, will take over a terminal operator from its parent China Shipping (Group) for US$380.1 million, Dow Jones reports.

CSCL will buy China Shipping Terminal Developer because the port developer will help the company to accelerate its development as an integral service provider.

China Shipping Terminal Developer manages ports in and outside China.

Source: http://www.cargonewsasia.com