Bulker owner Cosco Shipping International (CSI) is terminating its CNY 2bn ($312m) medium term note (MTN) programme from 28 June.

The Singapore-listed company said the involvement of JP Morgan as arranger and BOCI Asia as dealer will also end.

There are no notes issued and outstanding.

The programme was established by the company in 2011.

But since the end of 2017, it has sold off its shipyard business in China and is re-focusing its expansion into the logistics business in South and Southeast Asia following the acquisition of Cogent Holdings and Ocean Global Shipping.