Four shipping industry giants to be shareholders of Yangshan 3rd phase
Four shipping industry giants, PSA International, China Shipping Group, Shanghai Port Group and CMA CGM, are likely to be selected as the main shareholders of phase three of the Project A of Yangshan's container port, according to Shanghai Securities News.
Although Project A of Yangshan's third phase is expected to be completed by year's end, competition for shares in the project has been intense, the report said.
Five companies have been confirmed as shareholders, and reportedly their holdings are PSA and China Shipping 30 per cent each, Shanghai Port Group 20 per cent and Cosco and CMA CGM with 10 per cent each.
But Shanghai Securities News remains murky as this report conflicted with another from an inside source who said four companies were selected as investors in Project A of Yangshan's third phase, which covers four berths.
According to this source, PSA and CMA CGM, both of which unsuccessfully applied to be shareholders of Yangshan's first and second phases, are now expected to be successful in their bids, with PSA getting a 30 per cent and CMA CGM receiving 10 per cent.
China Shipping will again be selected and receive 30 per cent after it acquires 10 per cent of the second phase, the insider told Shanghai Securities News.
While Shanghai Port Group will have 30 per cent in the third phase after it was selected as sole investor in the first phase and acquired 16 per cent of the second phase, according to the source, the journal reported.
Other reports also said Shanghai Port Group wants a controlling interest in the third phase and that the share proportions may be further adjusted.
Although Project A of Yangshan's third phase is expected to be completed by year's end, competition for shares in the project has been intense, the report said.
Five companies have been confirmed as shareholders, and reportedly their holdings are PSA and China Shipping 30 per cent each, Shanghai Port Group 20 per cent and Cosco and CMA CGM with 10 per cent each.
But Shanghai Securities News remains murky as this report conflicted with another from an inside source who said four companies were selected as investors in Project A of Yangshan's third phase, which covers four berths.
According to this source, PSA and CMA CGM, both of which unsuccessfully applied to be shareholders of Yangshan's first and second phases, are now expected to be successful in their bids, with PSA getting a 30 per cent and CMA CGM receiving 10 per cent.
China Shipping will again be selected and receive 30 per cent after it acquires 10 per cent of the second phase, the insider told Shanghai Securities News.
While Shanghai Port Group will have 30 per cent in the third phase after it was selected as sole investor in the first phase and acquired 16 per cent of the second phase, according to the source, the journal reported.
Other reports also said Shanghai Port Group wants a controlling interest in the third phase and that the share proportions may be further adjusted.
