Norwegian tanker owner Odfjell is banking $46m from selling an indirect holding in a Chinese terminal.
Yangzijiang Shipbuilding (Holdings) has snapped up the 55% interest, it said.
The move follows the sale by Odfjell's partner Lindsay Goldberg (LG) of its own stake in the terminal.
"Odfjell has decided to tag along on LG's sale of its indirect shareholding in Odfjell Terminals (Jiangyin)," it said.
Odfjell will book a capital gain in the third quarter, with net proceeds expected to be $21m.
CEO Kristian Morch said: "We are pleased to have concluded the sale of our Jiangyin terminal and its jetty at what we believe is a fair valuation that is a testimony to the strength and quality of the investments made since 2007.
"This divestment is in line with our strategy to grow and focus on chemical terminals in locations where we can harvest synergies with Odfjell Tankers."
LG cashing in
In May, Odfjell said LG was considering selling its 49% stake in Odfjell Terminals (OTBV).
Having completed the sale of its holdings in European and US terminals, LG is now in the process of offloading stakes in the Asian terminals, Odfjell said on Tuesday.
LG has been Odfjell's joint venture partner in OTBV's US and European terminals since 2011.
In 2013, this was expanded to include OTBV's global terminal operations.
Earlier in 2018, Odfjell completed the sale of its 50% stake in a Singapore terminal for $150m to Macquarie.
