China Shipping unit doubles fleet
H share takes 20 tankers from parent
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