China Cosco Shipping Corp is said to be mulling the increase of its stake in Guangzhou Port.
The Chinese conglomerate is planning to grow its 9% holding in the southern China-based terminal, Bloomberg reported, citing a person familiar with the matter.
Guangzhou Port received regulatory approval in January for an initial public offering (IPO) in Shanghai.
It plans to use CNY 1.6bn ($232m) from the IPO proceeds to fund a CNY 7.5bn project in the Nansha port district.
Following its restructuring, Cosco has looked to expand its holdings in terminals over the globe as container freight rates remain under pressure.
The source told Bloomberg the company is looking for joint overseas opportunities with Chinese ports.
Cosco has invested in European terminals, with significant stakes in Piraeus and Rotterdam, while it has also agreed to build and operate a new hub in Abu Dhabi.
