Shanghai-listed Jinzhou Port has halted trading as its controlling shareholder Dalian Port Group is planning for a major restructuring deal involving a shareholding change in the company.
Currently, the China-based port operator Dalian Port Group owns about 20% equity interest in Jinzhou Port and markets speculate that another merger of port assets may be under way, following the merger between Ningbo Port and Zhoushan in September 2015.
The new merger company is known as Ningbo-Zhoushan Port Group, which integrates the operations of five major ports in the province; Ningbo, Zhoushan, Jiaxing, Taizhou, and Wenzhou. This integration has led Ningbo-Zhoushan Port to become the world’s busiest in terms of throughput.
Market speculation is rife that Jinzhou Port and Dalian Port Group may follow Ningbo-Zhoushan Port Group down the merger road to consolidate all the major port assets in the region.
This post was sourced from IHS Maritime 360: View the original article here.