CSDC to buy again?

Another 20% of Chinese tanker owner Shanghai Northsea Shipping is up for grabs.

China Shipping Group’s  (CSG) Shanghai Shipping is offloading the slice through the Shanghai United Assets and Equity Exchange, Asian reports said.

Another CSG company, China Shipping Tanker (CST), a subsidiary of China Shipping Development Co (CSDC), could bid again after snapping up a 20% stake from Sinochem in June.

The price then was CNY 830m ($114m) – and this is the starting level for offers again.

Shanghai Northsea owns four modern aframaxes, plus four products carriers, and has one more of each due from Chinese shipyards this year.