Is Singapore’s GIC Slowly Backing Away from Sinotrans?
Beijing-based Sinotrans Limited is one of the largest logistics firms in China, founded in 2002. The majority shareholder of Sinotrans Limited, which is listed on the Hong Kong Stock Exchange, is Sinotrans & CSC Holdings Co., Ltd (controlling 53.44% as of December 31, 2015). Sinotrans & CSC Holdings Co., Ltd., China’s second biggest shipping company by fleet size, was acquired by China Merchants Group Limited on December 29, 2015. Sinotrans competes with DHL, DB Schenker, Pantos Logistics, Kuehne + Nagel, other providers and now possibly e-commerce giant Amazon. The company also witnessed dry freight rates decrease.
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