How it started
History
China Shipping Group Company was formed in 1997 by a merger of three Chinese Government owned shipping conglomerates, based in Shanghai, Guangzhou and Dalian respectively. At first the company had a net loss of RMB 680 million (in yuan) a year. The merger also made China Shipping Group became the new parent company of Hong Kong listed company China Shipping Development, at that time known as Haixing Shipping. Haixing Shipping was listed since 1994. China Shipping Group sold 19 oil tankers to the aforementioned listed subsidiary in 1998, for cash and A share.
In 2000, China Shipping Group formed a new land based logistics company, China Shipping Logistics Co. (CSLC), with other fellow Chinese Government owned companies. China Shipping Group's listed subsidiary, China Shipping Development, also purchased a small stake.
In 2001, China Shipping Group bought 50% stake of China Shipping (North America) Agency from Norton Lilly International, a shipping agent. In 2002, China Shipping Group, via the subsidiary, China Shipping Container Lines, placed orders on new container ships. The deal was partnered with fellow Government owned company (and future sister company), China Ocean Shipping (Group) Corporation (COSCO Group) and worth more than US$700 million.
In 2003, China Shipping Container Lines, introduced their second shipping route between China and northern Europe.
In 2005, via a subsidiary, China Shipping Group invested in a terminal of the Port of Tianjin.
From Wikipedia’s article on China Shipping Group, shared under CC BY-SA 4.0.2