Jinjiang Shipping, the maritime division of the Shanghai International Port Group (SIPG), has unveiled its ambitious plan for going public on the Shanghai Stock Exchange. The move is seen as a significant stride in the carrier’s expansion within the intra-Asia maritime sphere.
Preparations for a Significant Public Offering
Jinjiang Shipping revealed its plans to float approximately 15% of its complete stock. The goal? Aiming to accumulate nearly RMB3bn- a substantial sum set to be invested in enhancing the company’s armada, assimilating more containers, and embracing the wave of digitization in its daily operations.
Current Ownership Structure and Future Predictions
Today, SIPG boasts ownership of a whopping 98% of Jinjiang Shipping, with the remaining 2% possessed by its other subsidiary – the Shanghai Port International Passenger Center. Despite initial concerns, the unveiling of this nascent plan has clarified doubts: while Jinjiang will subsequently be spun off post the anticipated listing, control will remain firmly in the hands of SIPG.
The Stature of Jinjiang Shipping in the Maritime Market
Shipping industry monitor Alphaliner regards Jinjiang Shipping as the 32nd key liner operator worldwide, commanding a fleet of 47 vessels that can potentially carry around 44,400 twenty-foot equivalent units (TEU). Currently, under its direct ownership, the company possesses 21 such vessels.
Adding to its impressive tally, Jinjiang has four more marine vessels under construction that are expected to further bolster its capacity, adding a capacity of 7,600 TEU.
Riches on the Horizon for Jinjiang Shipping?
The future looks promising for Jinjiang Shipping as it prepares to navigate the high seas of the stock exchange, with the hope of reaping significant gains from the flotation. This strategic move will catalyze the growth and expansion of the company’s maritime fleet and its operational capabilities vehemently.
A successful run would not only see the company’s value soar but also substantially enhance its position in an ever-evolving and fiercely competitive global shipping industry. Only time will reveal the true charting of Jinjiang’s course on the open waters of the Shanghai Stock Exchange.
