Xiamen to sell stake

These include NYK, MOL, CMA CGM, PSA, HPH, Evergreen, Container Corporation of India, Larsen & Toubro and Gammon India. A contract is expected to be awarded in September or October.

Xiamen, the nearest port to Taiwan, is currently considering selling off a 9.9% stake to strategic investors. The sale would be part of its US$150m public offering, which the operator has won approval for from the Hong Kong stock exchange. Xiamen and Tianjin Port Development Holdings have teamed up with a plan to raise a combined US$250m.