China Shipping Container Lines , the country's second-largest carrier of sea-cargo boxes, will buy its parent's terminal unit for 2.6 billion yuan (HK$2.96 billion) to add facilities in 14 Chinese ports.
The terminal unit owns stakes in 29 berths in cities including Shanghai, Guangzhou and Dalian, the Shanghai-based container line said.
Another nine berths are also under construction. Buying China Shipping Terminal Development. will enable the container line to reduce its handling costs as it grapples with rising fuel prices and slowing export growth.
The terminal unit owns stakes in 29 berths in cities including Shanghai, Guangzhou and Dalian, the Shanghai-based container line said.
Another nine berths are also under construction. Buying China Shipping Terminal Development. will enable the container line to reduce its handling costs as it grapples with rising fuel prices and slowing export growth.