China Merchants Energy Shipping (CMES) said on Friday it would enter the container segment by fully acquiring its affiliate, Sinotrans Container Lines (Sinolines), for $316m.
CMES, the second-largest Chinese state-controlled shipping group after China Cosco Shipping Corporation, is currently active in the crude oil tanker and dry bulk segments and in LNG shipping through a joint-venture with Cosco.
Both CMES and Sinolines are majority owned by state-owned China Merchants Group, which acquired …

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Source: The Loadstar