China Ocean Shipping Co (Cosco), the largest mainland shipping company, will sell at least four of its port operations to Hong Kong-listed arm Cosco Pacific, sources say.
They said the four were at Yantian, Qingdao, Shanghai and Zhangjiagang ports.
Another three operations - at Shekou, Ningbo and Yingkou - were under study.
The sources said the deal, which had to be cleared in accordance with listing rules, would be completed by June.
Speaking at the maiden voyage of Cosco's new 5,250-teu (20 ft equivalent unit) vessel Lu He to Hong Kong on Saturday, Cosco president Chen Zhongbiao said: 'All our terminal operations [in China] are working efficiently.' The Lu He, which was the first of six sister vessels built in Japan by KHI, will serve the North American trade.
Cosco will also take delivery of seven 3,400-teu vessels soon, bringing its total capacity to 250,000 teus.
