CHINA: A subsidiary of China Shipping Group, China Shipping Terminal Development aims to sells its 49% venture in a terminal operator in Lianyungang Port.
Lianyungang Xindongrun Terminal – a 51/49 joint venture between Lianyungang Port and China Shipping Terminal Development – posted a profit last year of CNY140, 000 on revenues of CBY78.1M.
But in the first 10 months of 2014 the company’s losses totaled CNY5.1M on revenues of 59.3M Yuan.
In 2013 China Shipping Terminal Development exited another joint venture with Lianyungang Port by selling its 55% stake in New Oriental Container Wharf at the port.
China Shipping Terminal Development disclosed its plans to offload its stake in Lianyungang Xindongrun Terminal at the Shanghai United Assets and Equity Exchange without sharing its motives.
