The story
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.
In 2008, China Shipping Group announced that to form a joint venture with fellow Chinese Government owned China National Coal Group on shipping coals.
IPOs
In 2004, the Group listed the subsidiary, China Shipping Container Lines in the Stock Exchange of Hong Kong (SEHK) by issuing H shares. In 2007, the listed subsidiary floats its A share in the Shanghai Stock Exchange (SSE).
In 2007, China Shipping Group injected assets to another listed subsidiary of the group, China Shipping Haisheng (Chinese: 中海海盛), which is listed in SSE. However, China Shipping Group sold China Shipping Haisheng in August 2015. but bought back some business in August 2016 to complete the selling of the listed company as a vehicle of backdoor listing.
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The Group has yet another subsidiary that listed in Shenzhen Stock Exchange (SZSE), which formerly known as China Shipping Network Technology.
In 2011, yet another subsidiary, China Shipping Nauticgreen was planned to be listed in the SEHK. However, it was cancelled in August 2011.
Mergers
In 2010, fellow Central Government owned conglomerate, Shanghai Ship and Shipping Research Institute (SSSRI), became a wholly owned subsidiary of China Shipping Group.
In December 2015 the China Shipping Group announced a merger with its larger government-owned compatriot, China Ocean Shipping (Group) Corporation (COSCO Group). The merger was completed in February 2016; producing the mega-entity China COSCO Shipping, to be headquartered in Shanghai. The businesses and subsidiaries of both China Shipping and COSCO were integrated into one conglomerate. The merger was triggered by a downturn in the container and marine shipping industry that stymied the financial health of both China Shipping and COSCO, thus motivating the two to unite and endure the decline together. Additionally, the merger is attributable to China's State-owned enterprise reform.
China Shipping Group was retained as an intermediate holding company, but disappeared as the brand of the combined group.
In 2017, China Shipping (Group) Company was reincorporated from "An industrial enterprise owned by the whole people" to simply a limited company. The name of the company, also changed to China Shipping Group Company, Limited (Chinese: 中国海运集团有限公司).
From Wikipedia’s article on China Shipping Group, shared under CC BY-SA 4.0.3