Chinese container line Shanghai International Port Group (SIPG) is planning a separate listing for its shortsea operation Shanghai Jinjiang Shipping.
Shanghai-listed SIPG said its board of directors had authorised management to prepare the grounds for a spin-off.
The Shanghai Stock Exchange appears the most likely destination for the subsidiary, which Clarksons lists as controlling 27 ships, mainly feeder size container vessels but also three multipurpose ships and a small product tanker.
A feasibility plan will now be drawn up, SIPG said in a filing.
Bosses will also focus on how to restructure operations to fit in with a new listing, SIPG added.
The group believes the move will be "conducive to the optimisation of the capital market" for Jinjiang, and further enhance its business development, profitability and competitiveness.
Expanding in Asia
SIPG said a listing would be in line with its "strategic planning".
But the shipowner stressed the separation was still in the preliminary planning stage.
Jinjiang's trades focus on routes from Shanghai and Qingdao to Japan, Thailand, Taiwan and Vietnam.
The company is also opening up more lanes in Asia to become a leading regional carrier in terms of market share.
Jinjiang's website lists 13 ships of between 700 teu and 1,100 teu in the fleet.
The company also has four 1,900-teu vessels on order at Zhejiang Yangfan in China for delivery in 2023.
VesselsValue lists Jinjiang with 12 boxships worth $354m, including the newbuildings.
SIPG has 55 operational vessels, including multipurposes, a tanker and tugs.
