Sinotrans, Changjiang Shipping plan merge

China National Foreign Trade Transportation Corp (Sinotrans) and China Changjiang National Shipping Corp plan to merge into China's second-largest shipping logistics firm, the official Shanghai Securities News said on May 14th. Sinotrans Group, parent of Sinotrans , Sinotrans Ship and Sinotrans Development , and Changjiang Shipping, the parent of Nanjing Tanker and Changjiang Phoenix, have submitted a merger proposal to the state asset regulator, the newspaper reported, citing a senior Sinotrans executive.

Sinotrans Group will take the lead in the merger, which will not involve any equity in the listed units of the two group companies, the newspaper said.